700 & 604 Corral Ln, Austin, TX 78745
- $1,349,000
- List Price
- $1,349,000
- Status
- ACTIVE
- MLS#
- 2478448
- Price Change
- ▼ $151,000 1784339868
- Days on Market
- 131
- Lot Size
- 87,555
- Area
- Austin - South
Property Description
Ideal HOME / HOME2 development site. This 2.01+/- acre assemblage of two 1+/- acre city lots is in the sweet spot for size and density under the code, ideal for a mid-density entry level sale or single family rental development in the heart of Austin. Feasibility studies by LLVLL Design / Build projects up to 31 units @ 1650 sqft / unit, equating to over 51,000 buildable sqft, extracting maximum benefit from 90% FAR allowed under the code if used strategically. At 51k sqft land cost is under $30/sqft. Nice level site with easy access. Arborist indicates all existing trees can be removed. The existing homes are both occupied allowing for a low cost entry point leveraging conventional residential lending and substantial interim rental income while in the lead up to groundbreaking. One of both of the existing homes could be saved / renovated/ flipped to substantially lower the cost basis on the land with minimal impact to the total project unit count. I-35 Capital Express South project with easy access from both directions and a 2023 daily traffic count of over 190,000. Major infrastructure improvements related to the TXDOT effort just completed. Buyers to do all their own due diligence. Contact LA for more information.
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Additional Information
- Taxes
- $16,018
- Tax Year
- 2025
- Region
- Austin - South
- View
- No View
- School District
- Austin ISD
- Elementary School
- Pleasant Hill
- High School
- Crockett
- Middle School
- Bedichek
- Sewer
- Public Sewer
- Street Name
- Corral Ln
- Street Number
- 700 & 604
- Neighborhood
- Circle S Ridge Sec 01
- Water
- Public
- Acres
- 2.01
- County
- Travis
- Lot Description
- City Lot, Cleared, Level, Open Lot, Public Maintained Road
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Listing courtesy of Texas Ally Real Estate Group. Contact: (512) 763-2559
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