$1,725,000

Property Overview

This South Lamar gem at 901 Mary Street presents a rare dual-purpose opportunity in Austin's most coveted 78704 zip code. The reimagined property operates as either a spacious primary residence with guest income potential or a fully functioning multi-unit investment compound, giving buyers exceptional flexibility. The main home features three bedrooms, three baths, and an open-concept living area anchored by a fireplace, with two additional guest bedrooms on the main level and a luxurious primary suite spanning the entire second floor. At 3,138 square feet across a generous 7,274-square-foot lot, the home strikes an ideal balance between intimate everyday living and entertaining capability.

The property's outdoor spaces capture South Austin's relaxed charm with a welcoming front porch, private patio, and mature shade tree complete with swing—a rare retreat feel steps from Restaurant Row, Alamo Drafthouse, and direct access to Zilker Park. Whether positioned as a sophisticated residence generating supplemental income or developed as an income-producing investment property, this 2004-built South Lamar residence offers both lifestyle appeal and financial upside. The location places buyers minutes from downtown Austin's energy while maintaining the eclectic, vibrant character that defines South Austin living.

Vox Residential Insight

This property's dual-income-path flexibility is what sets it apart in South Lamar's competitive market, and at $550 per square foot, it's strategically priced against area comparables. The Vox Residential team sees significant appeal for both owner-occupants seeking passive income and investors hunting for established, turnkey revenue streams in one of Austin's most desirable neighborhoods.

Agent Description

Rare opportunity in the heart of 78704 just minutes from downtown Austin and the South Lamar corridor. This fully reimagined 1930s South Austin property offers exceptional flexibility with two distinct ownership paths: a spacious primary residence with guest income potential, or a fully functioning multi-unit investment property with immediate cash flow. Option 1: Primary Residence with Income Support The main home is a thoughtfully expanded 3-bedroom, 3-bath residence featuring an open-concept living area with fireplace, two guest bedrooms on the main level, and a private upstairs primary suite spanning the entire second floor. The layout offers separation, comfort, and character while maintaining a warm, livable flow ideal for everyday living and entertaining. Outdoor spaces include porch, a private patio, and a mature shade tree with swing—creating a rare retreat feel. Option 2: Fully Income-Producing Compound For investors or hybrid owner-occupants, the property functions as a true multi-unit setup. A converted garage structure includes two separate residences: a 2-bedroom, 1-bath unit with kitchenette and laundry amenities. Also a fully renovated 1-bedroom 1-bath (~550 sq ft) upstairs apartment with full kitchen and established long-term tenancy on month-to-month terms. The main home and additional units have been utilized for both short-term and long-term rental income, offering diversified revenue streams in one of Austin’s most consistently in-demand rental corridors. Significant system upgrades include spray foam insulation throughout both structures (2014), new roofs (2021), and high-efficiency windows on the main residence (2024), supporting long-term efficiency and reduced maintenance. Located in one of Austin’s most walkable and high-demand neighborhoods, this property offers immediate usability, strong rental performance, and long-term appreciation potential without the typical constraints of nearby comparable properties.

Neighborhood: South Lamar

This property is located in South Lamar, Austin, TX. The area is known for Restaurant Row, Alamo Drafthouse, Zilker Park Access, Eclectic Shopping, Vibrant Nightlife.

At $550/sqft, this listing is priced near the South Lamar median of $570/sqft.

Property Details

Listing data last updated: May 19, 2026

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