$574,900

Property Overview

This East Austin investment property on Elmira Road in Grant Park presents a unique dual-income opportunity with both a main residence and a permitted accessory dwelling unit. The primary 1957-built home features three bedrooms and one bath across approximately 1,024 square feet, currently leased to a stable tenant through June 2027. Recent upgrades including a new roof, HVAC system, tankless water heater, and updated water and sewer lines position this home for reliable long-term performance. The side-entry ADU, constructed in 2021 with full City of Austin permits, stands as a modern 1-bedroom studio with soaring 15-foot vaulted ceilings, private entrance, and independent fenced yard ideal for mid-term rental income.

Situated on a generous 0.25-acre lot anchored by mature trees, 1614 Elmira Road sits minutes from Mueller and downtown Austin while remaining in one of East Austin's most dynamic neighborhoods. The property accommodates multiple ownership strategies: maintain dual cash flow streams, undertake selective renovations, or explore redevelopment potential in a corridor experiencing substantial growth. With three parking spaces and central HVAC throughout both units, this turnkey income generator offers flexibility that appeals to investors seeking established tenancy or operators ready to optimize rental returns. Owner financing at 4.99% may be available to qualified buyers.

Vox Real Estate Insight

This dual-unit property captures a rare moment in Grant Park where land value and rental demand align for investors seeking immediate income with long-term appreciation potential. The Vox Real Estate team recognizes that East Austin's transformation makes properties like this especially valuable for buyers who understand the neighborhood's trajectory and want cash flow today with significant upside tomorrow.

Agent Description

Cash-flowing income property in East Austin's Grant Park/East MLK neighborhood, minutes from Mueller and downtown. Owner financing available at 4.99%. The main house (Unit 1) offers 3 bedrooms and 1 bath in approximately 1,024 square feet, built in 1957, leased through June 2027 with a long-term tenant in place, and recently updated with a new roof, HVAC, water heater, and water/sewer lines. The side-entry ADU (Unit 2), built in 2021 and City of Austin permitted, is a 1-bedroom, 1-bath studio with soaring 15-foot vaulted ceilings, a private entrance, and its own fenced yard, operated as a mid-term rental with income that varies seasonally. Set on a spacious 0.25-acre lot, this property offers multiple paths forward: hold for cash flow, remodel, or redevelop to maximize rental income in one of East Austin's fastest-evolving corridors. Seller financing may be available to qualified buyers, inquire with listing agent for details. Buyer and buyer's agent to verify all information.

Property Details

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