$295,000

Property Overview

This exceptional 603 Grady Drive property in Georgian Acres presents a rare development opportunity on a sprawling 10,288-square-foot SF-3 zoned lot in Austin, TX. The mid-century modern bungalow currently operates as a single-family residence with an attached duplex structure, offering flexibility for investors and builders seeking multi-unit potential. Priced at just $195 per square foot—26 percent below the area median—this North Lamar-area home captures significant value for those ready to reimagine its potential.

The 1,510-square-foot main residence features four bedrooms, three bathrooms, and authentic mid-century character with original hardwood floors, soaring ceilings flooded with natural light, and vintage architectural details that anchor the home's distinct charm. The open-concept living spaces showcase large windows on nearly every exterior wall, creating an airy, inviting atmosphere that honors the property's classic era while supporting modern renovation vision.

Location amplifies this property's investment appeal. Situated minutes from The Domain's retail and entertainment hub, Q2 Stadium, and the rapidly developing Uptown Austin corridor, 603 Grady Drive benefits from Austin's northern growth trajectory. Highway convenience and proximity to downtown create immediate accessibility, while the generous lot size accommodates future expansion or reconfiguration under current SF-3 zoning. This property merits serious consideration from investors, developers, and buyers seeking authentic mid-century bones with development runway in an increasingly desirable Austin neighborhood.

Agent Description

Rare opportunity to make your dream HOUSE/DUPLEX/TRIPLEX Extra Large SF3 Lot. This charming Mid-Century Modern bungalow, currently configured as a single-family residence with an attached duplex (convertible to a triplex), presents a prime opportunity for renovation and investment in Austin's rapidly appreciating North Lamar neighborhood. Situated on a spacious 10,500 sq ft lot zoned SF-3 (which permits single-family homes, duplexes under certain conditions, and accessory dwelling units), the property is located just 10 minutes from downtown Austin and offers excellent proximity to major developments, including The Domain, the new Q2 Soccer Stadium, and the emerging Uptown Austin area. Key Property Features: Approximately 1,510 sq ft of living space 4 bedrooms and 3 bathrooms Open-concept layout with abundant natural light from large windows on nearly every exterior wall Original hardwood floors throughout (except kitchen) Vintage Mid-Century Modern architectural details Tenant in place with flexible lease terms (30 days to one year) Investment and Customization Potential: This property is sold AS-IS and represents an ideal candidate for buyers seeking a renovation project with strong long-term appreciation prospects. The solid structural foundation ("good bones") and generous lot size provide flexibility for: Restoring the home as a spacious single-family residence Converting to a multi-unit configuration (e.g., duplex or triplex) Expanding with additions such as a pool, guest house, garden, or accessory dwelling unit *Perfect for homebuyers or investors seeking a project in a prime location Original Mid-Century Modern Design: *Features original hardwood floors (except in the kitchen), vintage architectural details, and an abundance of natural light with windows on nearly every exterior wall. The area's ongoing growth positions this asset for significant value appreciation, making it attractive for both owner-occupants and investors. Endless Possibilities

Neighborhood: Georgian Acres

This property is located in Georgian Acres, Austin, TX. The area is known for Affordable Living, Near The Domain, Q2 Stadium Access, Highway Convenience, Growing Area.

At $195/sqft, this listing is priced 26% below the Georgian Acres median of $265/sqft.

Property Details

Listing data last updated: May 19, 2026

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