For sale
$1,349,000
700 & 604 Corral Ln
Austin, TX 78745
- 0 beds
- 0 baths
- 2.01 acres
Listing courtesy of Texas Ally Real Estate Group · (512) 763-2559 · MLS# 2767810 · Status: Active
About this home
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.
Description provided by the listing brokerage.
Facts
- Property type
- Commercial Sale · See Remarks
- Year built
- 1959
- Lot size
- 2.01 acres
- Annual taxes
- $16,018
- County
- Travis
- Neighborhood
- Circle S Ridge Sec 01
Features
- View
- None
- Sewer
- Public Sewer
- Utilities
- Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
- Water
- Public
- Parking
- None
- Construction
- Brick, Frame
Location
Listings courtesy of Unlock MLS as distributed by MLS GRID.
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