Property Overview

This exceptional East Austin assemblage at 602 Allen Street presents a rare development opportunity on nearly 11,000 square feet of strategically positioned land just minutes from downtown. The combined front and rear parcels offer developers the chance to create new construction in one of Austin's most dynamic neighborhoods, where a thriving arts scene, acclaimed restaurants, and breweries define the character of the area. The existing 1935-era structures on the property are offered for land value only, providing maximum flexibility for future vision.

The two-lot configuration—with the front parcel already platted at 5,760 square feet and the rear lot at 5,138 square feet—sits at the heart of East Austin's ongoing renaissance. This location captures the neighborhood's perfect blend of historic charm and modern development momentum, where cultural diversity and contemporary construction are reshaping the streetscape. While consolidation of the parcels will require a Unified Development Agreement, the assembled land size and central positioning create compelling potential for residential or mixed-use projects.

At $1,150,000, this land-value offering represents an entry point for developers seeking to participate in East Austin's continued transformation. The property's proximity to downtown, combined with the neighborhood's robust commercial and cultural infrastructure, positions it as a meaningful development site in one of Austin's most sought-after emerging areas.

Agent Description

Prime central location just minutes from downtown. Exceptional opportunity for new construction on a combined 10,898 sq ft (Front Lot: 5,760 sq ft | Back Lot: 5,138.63 sq ft). Existing improvements include two dwellings and storage units; all structures are in poor condition and the property is offered for land value only. Both lots are to be sold together. The rear lot is not platted; a Unified Development Agreement will likely be required to consolidate the parcels.

Neighborhood: East Austin

This property is located in East Austin, Austin, TX. The area is known for Thriving Arts Scene, Top Restaurants & Breweries, Historic Homes, Modern New Construction, Cultural Diversity.

At $1190/sqft, this listing is priced 129% above the East Austin median of $519/sqft.

Property Details

Listing data last updated: March 25, 2026

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