$399,000

Property Overview

This SF-3-NP zoned property on East Austin's vibrant 5th Street presents a rare development canvas in one of the city's most sought-after neighborhoods. The 1945 home sits on an oversized 6,786-square-foot lot, offering flexibility to renovate the existing structure, add multiple units, or develop an entirely new project in this rapidly transforming cultural corridor. With month-to-month rental income currently flowing and the adjacent 2907 E 5th Street also available, this represents an exceptional opportunity to assemble two contiguous lots in an area experiencing sustained demand growth.

The East Austin location delivers immediate lifestyle appeal—Plaza Saltillo, Lady Bird Lake, and Metz Park are steps away, while Joe's Bakery, local breweries, acclaimed restaurants, and live music venues define daily neighborhood life. At $451 per square foot, this property prices nine percent below the area median, making it an attractive entry point for investors and developers in one of Austin's hottest urban corridors. Downtown access, thriving arts scenes, and diverse dining and cultural options position this location at the heart of where Austin is headed.

Vox Residential Insight

Vox Residential recognizes this as a rare assemblage opportunity in East Austin, where zoning flexibility and adjacent lot availability are increasingly difficult to secure in this high-demand neighborhood. The month-to-month income stream while you plan your next phase makes this an investor-friendly position that aligns with the market's growing interest in East Austin redevelopment.

Agent Description

Discover the possibilities in one of East Austin's most exciting and rapidly evolving neighborhoods with this exceptional redevelopment and investment opportunity at 2909 E 5th Street. Situated on an oversized SF-3-NP zoned lot, this property offers the flexibility to renovate the existing home, build multiple units, or create your next standout project in one of the city's hottest urban corridors. The home is currently leased on a month-to-month basis, providing immediate rental income while you bring your vision to life. Looking for an even bigger opportunity? The neighboring property at 2907 E 5th Street is also available, creating the rare chance to assemble two side-by-side lots in a location where demand continues to grow. Enjoy everything that makes East Austin so desirable, with Plaza Saltillo, Lady Bird Lake, Metz Park, Joe's Bakery, neighborhood cafés, local breweries, live music, acclaimed restaurants, boutiques, and downtown Austin just minutes away. Whether you're an investor, builder, or developer, opportunities like this don't come around often, offering exceptional redevelopment potential in one of Austin's most vibrant neighborhoods.

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 $451/sqft, this listing is priced 11% below the East Austin median of $506/sqft.

Property Details

Listing data last updated: July 16, 2026

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