$599,000

Property Overview

This rare East Riverside development opportunity spans two parcels totaling one-third acre in the Willhoite subdivision, offering a fully permitted 6-unit condo project ready for immediate construction. The property arrives complete with architectural plans, city-approved permits, engineering documents, and site studies, eliminating the lengthy entitlement process that typically delays Austin development projects. Located on Ponca Street in Austin's rapidly expanding East Riverside corridor, this offering provides direct access to Downtown, Austin-Bergstrom International Airport, the Oracle campus, and major transportation corridors.

The approved modern condo project presents multiple investment strategies, from long-term rental operations to condominium sales or a hybrid approach. At $599,000 for the combined parcels, this positions well against new construction comparable sales in the mid-$500,000 range throughout the area. The level, private lots feature underground utilities and existing site infrastructure, while the no-HOA structure provides flexibility for the development team. Austin ISD schools, including Brown Elementary and Lamar Middle School, serve the neighborhood.

Vox Real Estate Insight

This is exactly the kind of shovel-ready development play the East Riverside corridor demands right now, and Vox Real Estate sees strong investor interest in projects that skip years of permitting delays. The fact that all entitlements and architectural work are already approved significantly de-risks the execution timeline for a seasoned developer.

Agent Description

Fully permitted 6-unit development opportunity in Austin’s rapidly growing East Riverside corridor. This offering includes two parcels (not a single lot), along with architectural plans, city-approved permits, engineering documents, and site studies, allowing a buyer to begin construction without the typical entitlement process. Approved for a modern 6-unit condo project, the property offers flexibility for condominium sales, long-term rentals, or a hybrid investment strategy. Excellent location with convenient access to Downtown Austin, Austin-Bergstrom International Airport, the Oracle campus, and major highways. Comparable new construction in the area has recently sold in the mid-$500,000 range. Buyer to independently verify all development information, permits, zoning, project approvals, square footage, comparable sales, and any applicable development requirements.

Property Details

Systems & Utilities

Exterior & Lot

Parking

Community & HOA

Assigned Schools

Taxes & Legal

Frequently Asked Questions