$450,000

Property Overview

This exceptional 2909 5th Street property sits on an oversized 6,786-square-foot lot in the heart of East Austin, offering savvy investors multiple development pathways. The existing 1945-built home generates month-to-month rental income while owners evaluate renovation, new construction, or redevelopment under the property's SF-3-NP zoning designation. With the adjacent parcel at 2907 5th Street also available, rare site assembly potential exists in this rapidly transforming corridor. Priced at $509 per square foot, this offering remains competitive with the East Austin median.

The location exemplifies East Austin's magnetic appeal: steps away from Plaza Saltillo, Metz Park, and Lady Bird Lake, with Blue Owl Brewing, Joe's Bakery, and a constellation of celebrated local restaurants defining the neighborhood's cultural landscape. This thriving arts district seamlessly blends historic charm with modern development, attracting both investors and creatives seeking authentic East Austin character. Direct access to public transit, downtown employment centers, and everyday amenities strengthens the investment thesis for both development and long-term holding strategies. Properties of this caliber with assembly potential rarely become available in this increasingly desirable East Austin corridor.

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 $532/sqft.

Property Details

Listing data last updated: May 19, 2026

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