1105 E 3rd St, Austin, TX 78702

Exceptional redevelopment opportunity in the heart of downtown Austin. With HOME Phase 1 and 2 already passed, this property is primed for development or expansion. The single parcel currently features two income-producing dwellings: a front house of approximately 1,617 sq ft and a detached 300 sq ft efficiency unit, both currently rented. The property offers a fully fenced perimeter for privacy and security, with gated access at both the front and rear, allowing for secure on-site parking and flexible access. The owner has commissioned architectural plans for a full redevelopment consisting of two townhomes with garages plus one single-family residence, allowing for a total of three new units. The lot may be fully scraped and rebuilt, or alternatively, the existing front home can be expanded vertically or reconfigured to maximize value. Ideally located just minutes from Rainey Street, downtown dining, nightlife, and Austin’s most popular hotspots. Tree Survey and Zonability Report available. A rare opportunity to capitalize on location, density, and long term upside in one of Austin’s most desirable urban cores.