$825,000

Property Overview

This 1920s bungalow on Spence Street sits on a rare two-lot canvas in downtown Austin, offering a tangible connection to the city's storied music heritage and creative legacy. The 768-square-foot home radiates vintage character while commanding views of the downtown skyline and iconic Waterline tower stretch across its expansive 6,137-square-foot lot—a footprint that speaks to possibility as much as history. Standing in East Austin's most walkable urban core, residents enjoy immediate proximity to 6th Street's entertainment district, Lady Bird Lake, and Congress Avenue's vibrant commercial pulse, all within one of Austin's most desirable neighborhoods.

The property presents multiple development pathways for discerning buyers: a thoughtful restoration of the existing structure, a strategic redevelopment opportunity, or a layered compound concept that honors old Austin while embracing forward momentum. The home's provenance—long held as part of Ernest Rangel Perez's estate, the Tejano legend whose influence shaped Austin's music scene—adds cultural significance rarely found in downtown properties. This is urban land with genuine soul, positioned at the intersection of downtown accessibility and East Austin's creative authenticity, where the past and future coexist.

Vox Residential Insight

At 41 percent above area median pricing, this property commands premium value for its lot size, location, and the cultural narrative embedded in its history rather than square footage. Vox Residential recognizes that savvy Austin buyers investing in downtown East Austin aren't simply purchasing shelter—they're acquiring a platform for meaningful contribution to one of the city's most dynamic neighborhoods.

Agent Description

Here’s your shot to create something meaningful in one of Austin’s most electric, walkable, and deeply rooted neighborhoods. Set within a 2-lot condo regime in East Austin, this property offers a rare mix of flexibility, views, and history. The existing bungalow on site is full of character and presence, paired with a lot that opens the door to multiple future paths. Whether you’re thinking thoughtful redevelopment, long-term hold, or a layered compound that blends old Austin with what’s next, this one already has a story worth continuing. This home was purchased from the estate of Ernest Rangel Perez, a Tejano legend whose influence on Austin’s music scene still resonates today. This property has always been tied to Austin’s creative pulse, and it still carries that energy in a way you can feel when you stand on the lot and take in the commanding skyline views. Downtown Austin stretches out in front of you, including the Waterline tower, the tallest building in Texas. Architect plans are already in place to preserve the original bungalow while incorporating it into a striking new build designed to capture those views from nearly every angle. The condo regime allows for additional structures, and with recent zoning changes, there’s real flexibility to explore multiple configurations, each with the potential for rooftop city views. Location is everything here, and this one delivers in every direction. Rainey Street is minutes to the west, East 6th and Cesar Chavez sit just north, the Holly District lies to the east, and Lady Bird Lake and Festival Beach are right to the south. With nearby bus routes, quick I-35 access, and the future I-35 cap and stitch project, this pocket is only getting more connected over time. This property is Austin’s culture, past, present, and future, on the same block. It’s a place where music history, neighborhood energy, and the city’s next chapter meet. Cool neighborhood. Real history. Big views. Endless ways to imagine what comes next.

Neighborhood: Downtown Austin

This property is located in Downtown Austin, Austin, TX. The area is known for 6th Street Entertainment, Lady Bird Lake, Congress Avenue, High-Rise Living, Walkable Urban Core.

At $1074/sqft, this listing is priced 40% above the Downtown Austin median of $766/sqft.

Property Details

Listing data last updated: May 19, 2026

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