$450,000

Property Overview

This exceptional East Austin parcel at 2907 5th Street presents a rare development opportunity in one of Austin's most dynamic neighborhoods. Sitting on an oversized 6,786-square-foot lot zoned SF-3-NP, the property offers multiple paths forward—restore the original 1920s character home, build new construction, or explore redevelopment potential. The existing two-bedroom residence currently generates month-to-month rental income, providing immediate cash flow while owners plan their vision. For developers and investors, the adjacent property at 2909 E 5th Street is also available, enabling strategic site assembly in this increasingly sought-after East Austin corridor.

The location places residents steps from Plaza Saltillo, Lady Bird Lake, and Metz Park, with Blue Owl Brewing, Joe's Bakery, and celebrated local restaurants within walking distance. East Austin's thriving arts scene, cultural diversity, and explosive growth trajectory have transformed the neighborhood into Austin's creative hub. Downtown access, public transit connections, and proximity to major employment centers enhance the property's appeal for both occupants and investors. At $690 per square foot, this offering reflects the neighborhood's significant appreciation and development momentum.

Agent Description

Exceptional opportunity in the heart of East Austin, where walkability, growth, and development converge. Located at 2907E 5th Street, this oversized lot offers multiple paths forward—renovate the existing home, build new construction, or explore redevelopment options under current SF-3-NP zoning. The property is currently leased on a month-to-month basis, providing immediate rental income while future plans take shape. An added opportunity exists with the adjacent property at 2909 E 5th Street also available, allowing for a rare site assembly in a highly desirable East Austin corridor. The location is a true standout—just moments from Plaza Saltillo, Lady Bird Lake, Metz Park, Joe’s Bakery, Blue Owl Brewing, and a variety of local cafe's and neighborhood favorites. Easy access to downtown Austin, public transit, major employers, and everyday essentials makes this an ideal setting for development or long-term investment. Opportunities like this are increasingly rare in East Austin, offering flexibility, location, and upside in one of Austin’s most dynamic areas.

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 $690/sqft, this listing is priced 30% above the East Austin median of $532/sqft.

Property Details

Listing data last updated: May 19, 2026

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