401 W Live Oak St, Austin, TX 78704

Description

Sold as one property: 401 & 401 1/2 W Live Oak St. Main house plus a rear building with an upper and a lower unit. Rare 3-unit income-producing and redevelopment opportunity in the desirable Bouldin area of 78704, minutes from Downtown Austin! Situated on an approximately 8,612 SF (.198-acre) corner lot in prime Central Austin, this property generates approximately $6,600/month ($79,200 annually) in current gross rental income per seller, across three separate units - an exceptional opportunity for an investor, owner-occupant, or builder.

UNIT MIX:

Main House: +/-1,104 SF, 2BR/2BA, renovated 2021
Unit A (Rear Building, Upper): +/-660 SF, 2BR/1BA, large porch screened in 2021, washer/dryer, updated HVAC - leased to long-term tenants in place approximately 10 years
Unit B (Rear Building, Lower): +/-660 SF including storage area, 1BR/1BA, furnished, washer/dryer - currently operated as a short-term rental (STR)

Each rear unit has its own private entrance and access to the gated yard. All three units are currently occupied (main house use subject to current lease); rent roll and lease details available upon request. Owner pays utilities. Parking for up to 7 vehicles. Buyer to verify STR eligibility with the city. SF per Travis CAD; approximate, buyer to verify.

Income from day one, with clear value-add upside: Unit A's interior has not been updated, presenting an opportunity to renovate and potentially increase rental income, and the storage area may be converted to expand Unit B's living space, subject to buyer verification of permitting. 2021 Main House updates: remodeled bathroom, refinished original hardwood floors, new refrigerator, foam insulation and updated windows.

Investment paths: hold as an income-producing asset, renovate Unit A and expand Unit B to increase rents, or pursue redevelopment. The corner lot may support redevelopment into up to three separate residences, subject to buyer verification of zoning.