$1,180,000

Property Overview

This South Congress corner lot presents a rare income-generating opportunity in one of Austin's most coveted neighborhoods. The 401 W Live Oak St property comprises three separate living spaces on an expansive 8,612-square-foot lot, currently producing approximately $6,600 monthly in gross rental income. The main residence offers 2 bedrooms and 2 baths across roughly 1,104 square feet, while a detached rear building houses two additional units: an upstairs 2-bed, 1-bath space and a furnished 1-bed, 1-bath garage apartment operated as a short-term rental. This multi-unit configuration allows investors and owner-occupants alike to generate immediate cash flow while the corner location on Live Oak Street positions the property for future development potential in the high-demand 78704 zip code.

Priced at $1,180,000 (14% below the area median price per square foot), this property combines lifestyle appeal with financial performance. The SoCo neighborhood's walkable environment, iconic retail along South Congress Avenue, food trailers, and live music venues create strong tenant demand and appreciation potential. Three parking spaces, mature landscaping, and a corner lot configuration provide flexibility for creative ownership or development strategies. The home's stone and HardiPlank construction, wood and tile flooring throughout, and modern appliances reflect its solid bones and ready-to-rent condition.

Vox Real Estate Insight

Vox Real Estate recognizes this as an exceptional convergence of income production and SoCo appreciation potential—the type of property that rarely hits the market with three operational units already generating revenue in such a desirable location. The 14% pricing discount relative to neighborhood comps reflects this being a true value-add opportunity before South Congress continues its upward trajectory.

Agent Description

Rare 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 offers three separate living spaces on one lot: a 2BR/2BA main house (approx. 1,104 SF) plus two private guest apartments behind it - ideal for an owner-occupant, multigenerational living, or an investor seeking rental income. The main house was renovated in 2021 with a remodeled bathroom, refinished original hardwood floors, fresh paint, a new refrigerator, and foam insulation in the walls and under the house. Windows have been updated throughout. The rear building has two independent units, each with its own private entrance and access to the gated yard: Upper (approx. 660 SF): 2BR/1BA, large porch screened in 2021, washer/dryer, updated HVAC. Leased to long-term tenants for approximately 10 years. Interior not yet updated - room to renovate. Lower (approx. 660 SF including storage area): 1BR/1BA, furnished, washer/dryer. Currently a short-term rental. The storage area may be converted to expand living space, subject to buyer verification of permitting. Current gross rental income is approximately $6,600/month ($79,200 annually) per seller. All three units are currently tenant-occupied; rent roll and lease details available upon request. A buyer's use of the main house is subject to current lease terms. Parking for up to 7 vehicles. Any STR use is subject to buyer verification of applicable city regulations and permitting. Owner pays utilities. Square footages per Travis CAD; approximate, buyer to verify. A flexible, income-supported property in one of Austin's most sought-after neighborhoods. Close to South Congress, South Lamar, and Lady Bird Lake, with restaurants, shopping, and entertainment nearby. The 8,612 SF corner lot may also offer redevelopment potential, subject to buyer verification of zoning and permitting.

Neighborhood: South Congress (SoCo)

This property is located in South Congress (SoCo), Austin, TX. The area is known for Iconic SoCo Shopping, Food Trailer Parks, Live Music Venues, Walkable Lifestyle, Austin Motel & Culture.

At $466/sqft, this listing is priced 22% below the South Congress (SoCo) median of $601/sqft.

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