Property Overview

This 1940 East Austin residence on Cross Street presents a rare development opportunity in one of the city's most dynamic neighborhoods. Situated on a generous 3,336-square-foot lot, the 720-square-foot structure requires complete renovation or presents an ideal teardown scenario for builders and investors seeking to capitalize on East Austin's explosive growth. The property's proximity to the vibrant Rainey Street corridor and a leisurely ten-minute walk to Lady Bird Lake positions owners within Austin's cultural epicenter, surrounded by acclaimed restaurants, craft breweries, and the thriving arts scene that defines this historic community.

The bones of this early-century home rest on fully operational utilities, streamlining the rehab or new construction process. Located at $590 per square foot—12 percent above the area median—the asking price reflects both the land value and the neighborhood's transformation into a premier Austin destination. East Austin's blend of carefully preserved historic character and modern new construction creates an ideal setting for investors and developers. Walking distance to independent coffee shops, galleries, and dining establishments, combined with direct access to Lady Bird Lake's recreational amenities, makes this cross Street parcel an exceptional canvas for creating contemporary Austin living in one of the city's most sought-after locations.

Agent Description

Buyer agents welcome! House is in very poor condition and needs total rehab or teardown. Fantastic opportunity for a project in East Austin's hottest neighborhood. Just a half-mile from Rainey Street area and a 10-minute walk to Lady Bird Lake. Lots of cool neighborhood restaurants and coffee shops nearby. All utilities in place.

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 $590/sqft, this listing is priced 14% above the East Austin median of $519/sqft.

Property Details

Listing data last updated: March 25, 2026

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