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Rare 3-unit income-producing and redevelopment opportunity in the desirable Bouldin area of 78704, minutes from Downtown Austin! Situated on an approximately 8,612 SF (.198-acre) corner lot in prime Central Austin, this property generates approximately $6,600/month ($79,200 annually) in current gross rental income per seller, across three separate units - an exceptional opportunity for an investor, owner-occupant, or builder. UNIT MIX: Main House: +/-1,104 SF, 2BR/2BA, renovated 2021 Unit A (Rear Building, Upper): +/-660 SF, 2BR/1BA, large porch screened in 2021, washer/dryer, updated HVAC - leased to long-term tenants in place approximately 10 years Unit B (Rear Building, Lower): +/-660 SF including storage area, 1BR/1BA, furnished, washer/dryer - currently operated as a short-term rental (STR) Each rear unit has its own private entrance and access to the gated yard. All three units are currently occupied; rent roll and lease details available upon request. Owner pays utilities. Parking for up to 7 vehicles. STR potential for the other units is subject to buyer verification of applicable city regulations, permitting, and requirements. SF per Travis CAD; approximate, buyer to verify. Income from day one, with clear value-add upside: Unit A's interior has not been updated, presenting an opportunity to renovate and potentially increase rental income, and the storage area may be converted to expand Unit B's living space, subject to buyer verification of permitting. 2021 Main House updates include a remodeled bathroom, refinished original hardwood floors, fresh paint, new refrigerator, and foam insulation in the walls and under the house. Updated windows throughout. Investment paths: hold as a stabilized income-producing asset, renovate Unit A and expand Unit B to increase rents, or pursue redevelopment. The corner lot may support redevelopment into up to three separate residences, subject to buyer verification of zoning.

8687427 MLS

401 W Live Oak St, Austin

$1,180,000

Rare opportunity in the desirable Bouldin area of 78704, minutes from Downtown Austin! Situated on an approximately 8,612 SF (.198-acre) corner lot in prime Central Austin, this property offers three separate living spaces on one lot: a 2BR/2BA main house (approx. 1,104 SF) plus two private guest apartments behind it - ideal for an owner-occupant, multigenerational living, or an investor seeking rental income. The main house was renovated in 2021 with a remodeled bathroom, refinished original hardwood floors, fresh paint, a new refrigerator, and foam insulation in the walls and under the house. Windows have been updated throughout. The rear building has two independent units, each with its own private entrance and access to the gated yard: Upper (approx. 660 SF): 2BR/1BA, large porch screened in 2021, washer/dryer, updated HVAC. Leased to long-term tenants for approximately 10 years. Interior not yet updated - room to renovate. Lower (approx. 660 SF including storage area): 1BR/1BA, furnished, washer/dryer. Currently a short-term rental. The storage area may be converted to expand living space, subject to buyer verification of permitting. Current gross rental income is approximately $6,600/month ($79,200 annually) per seller. All three units are currently tenant-occupied; rent roll and lease details available upon request. A buyer's use of the main house is subject to current lease terms. Parking for up to 7 vehicles. Any STR use is subject to buyer verification of applicable city regulations and permitting. Owner pays utilities. Square footages per Travis CAD; approximate, buyer to verify. A flexible, income-supported property in one of Austin's most sought-after neighborhoods. Close to South Congress, South Lamar, and Lady Bird Lake, with restaurants, shopping, and entertainment nearby. The 8,612 SF corner lot may also offer redevelopment potential, subject to buyer verification of zoning and permitting.

5 Beds ⋅ 4 Baths ⋅ 3738812 MLS

401 W Live Oak St, Austin

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Listings provided by North Texas Real Estate Information Systems (NTREIS). Listing data has been deemed reliable but is not guaranteed to be accurate by the MLS.

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