Property Overview

This 2909 5th Street property in East Austin presents a rare development opportunity in one of Austin's most dynamic neighborhoods. Situated on an oversized 6,786-square-foot lot zoned SF-3-NP, the home offers multiple paths forward for investors and developers—whether renovating the existing 1945-built structure, constructing new, or exploring redevelopment potential. The current month-to-month lease generates immediate income while future plans develop, and the adjacent 2907 5th Street property is also available, creating an exceptional site assembly opportunity rarely found in this sought-after corridor.

East Austin's cultural renaissance surrounds this location, with walkability to Plaza Saltillo, Blue Owl Brewing, Joe's Bakery, and an array of local cafés defining the neighborhood's character. Lady Bird Lake and Metz Park offer outdoor recreation steps away, while downtown Austin and major employers remain minutes distant via public transit access. The thriving arts scene, top-tier restaurants, and mix of historic homes alongside modern construction make this corridor increasingly coveted.

At $509 per square foot, this property aligns with area values while offering substantially more land and development flexibility than typical East Austin homes. The combination of strategic location, zoning potential, existing income, and growth trajectory positions 2909 5th Street as a compelling investment in Austin's most vibrant emerging neighborhood.

Agent Description

Exceptional opportunity in the heart of East Austin, where walkability, growth, and development converge. Located at 2909 E 5th Street, this oversized lot offers multiple paths forward—renovate the existing home, build new construction, or explore redevelopment options under current SF-3-NP zoning. The property is currently leased on a month-to-month basis, providing immediate rental income while future plans take shape. An added opportunity exists with the adjacent property at 2907 E 5th Street also available, allowing for a rare site assembly in a highly desirable East Austin corridor. The location is a true standout—just moments from Plaza Saltillo, Lady Bird Lake, Metz Park, Joe’s Bakery, Blue Owl Brewing, and a variety of local cafés and neighborhood favorites. Easy access to downtown Austin, public transit, major employers, and everyday essentials makes this an ideal setting for development or long-term investment. Opportunities like this are increasingly rare in East Austin, offering flexibility, location, and upside in one of Austin’s most dynamic areas.

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 $509/sqft, this listing is priced near the East Austin median of $519/sqft.

Property Details

Listing data last updated: March 25, 2026

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