$750,500

Property Overview

This fully renovated 1946 cottage on Holly Street in East Austin presents a rare convergence of immediate income and long-term appreciation potential. The two-bedroom, two-bath home sits on a generous 6,098-square-foot lot in Riverside, one of the neighborhood's most transformative blocks where thriving restaurants, breweries, and galleries now anchor what was once overlooked real estate. Current tenancy on flexible terms means investors can collect steady rental income while the property appreciates alongside East Austin's cultural renaissance.

The bones of this residence reflect thoughtful modernization: central cooling and heating, updated appliances including a built-in gas range, and two full bathrooms with primary suites on the main level. The accessible approach with ramp and private yard offer additional utility. What distinguishes this holding from typical rental properties is the development narrative embedded in the land itself. The lot's configuration and size create realistic potential for additional density in the rear, positioning savvy investors to capture upside as East Austin's zoning and development patterns continue evolving.

Vox Real Estate Insight

At $836 per square foot, this property commands a significant premium over East Austin's $483 median, but the pricing reflects not just the renovated home but the land optionality that increasingly defines investment strategy in this neighborhood. Vox Real Estate sees this as a sophisticated play for investors who understand that East Austin's next chapter will be written by those who secured acreage and flexibility before the neighborhood's full density potential became obvious to everyone else.

Agent Description

Fully Renovated East Austin Property | Income Today + Development Upside Rare opportunity to own a fully renovated 2-bedroom, 2-bath home in one of Austin's most desirable and rapidly evolving areas. The property provides an attractive combination of immediate income, future development potential, and long-term land play. The home is currently occupied by a month-to-month tenant who is willing to sign a long-term lease, giving the next owner flexibility to either maintain the current arrangement or lock in longer-term rental income, making this a terrific covered land play opportunity. The real value is in the land and optionality. Based on current development plans, there is potential to add two additional units in the rear of the property, creating an opportunity to increase density and rental income while retaining the existing renovated home. For an investor, this is a compelling land-covered investment: collect income from a fully improved property today while maintaining multiple paths for future value creation. Keep the existing tenant on a long-term lease, pursue the addition of two additional units, or simply hold the property for potential long-term land appreciation. Highlights include: fully renovated home, 2 bedrooms and 2 bathrooms, existing month-to-month tenant willing to sign a long-term lease, immediate rental income, potential for two additional units, and significant long-term redevelopment optionality. A unique opportunity to acquire a cash-flowing property with embedded development potential in Austin. Buyer to independently verify zoning, development potential, permitting requirements, and ability to construct additional units.

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 $836/sqft, this listing is priced 75% above the East Austin median of $478/sqft.

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