Property Overview

This Holly Street property in East Austin presents a rare development opportunity on a substantial .149-acre lot positioned at the intersection of Austin's most vibrant neighborhoods. The 1935 home requires significant renovation or removal, but the true value lies in the land itself—nearly 6,500 square feet with both commercial (CS) and multifamily zoning potential, along with alley access for versatile development. The location is unmatched for walkability and cultural access: Gati Cafe and Bread Basket Market sit directly across the street, Lady Bird Lake is just 0.6 miles away, and the Rainey Street District offers the same short distance for dining and entertainment options that define modern East Austin living.

Developers and investors recognize that East Austin's transformation continues to accelerate, with new construction rising alongside historic homes and an established arts scene that draws both residents and visitors. This lot's proximity to Iron Works, Franklin BBQ, and Austin's thriving brewery corridor makes it exceptionally marketable for mixed-use projects. The zoning flexibility and strategic downtown location—just two miles from the Capitol—create multiple revenue-generating scenarios. At $685,000, this represents significant potential for the right buyer with vision and development expertise.

Agent Description

Commercial or Residential lot with home needing major remodeling or demolition. Alley access. Fantastic location near Lady Bird Lake and Downtown. Ties to Austin’s Music History. .149 acre / 6,499 sqft per tax record approximately 44’ wide at front and 45’ at rear and 145’ deep Existing home is 960 sqft and was built in 1935 per tax record There is commercial and multifamily potential, as evidenced in the following reports: CS and SB 840 MF zoning are indicated by the Zonability report. CS info is linked below. Of course, buyer is to do your own research and verify permitted uses. If you are not familiar with this location, here are the walking distances to some nearby Central Austin landmarks, according to Google Maps: Gati Cafe and Bread Basket Market are directly across the street. ?Lady Bird Lake .6 mi Rainey Street District .6 mi. Iron Works .9 mi. Capitol 2 mi. Driscoll 1.5 mi. Franklin bbq 1.3 mi. Lucky Duck 0.8 mi. Airport 6.3 mi. Guero's and Homeslice 2.3 mi. Zilker 2.7 mi. Auditorium Shores 1.9 mi. Four Seasons 1.1 mi. Disch-Faulk 2 mi. Moody 2.2 mi. ACL live 1.4 mi. Barton Springs Pool 3.1 mi.

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 $714/sqft, this listing is priced 38% above the East Austin median of $519/sqft.

Property Details

Listing data last updated: March 25, 2026

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