1119 Gunter St, Austin, TX 78702

Amazing Income Property in the Heart of East Austin. This stunning property offers three units. The front home (Unit A) is the main residence, behind which you will find two income-producing properties (Units B & C). Situated in the highly sought-after Govalle community, this is an incredible investment property that could be used as a primary residence with 2 detached income-producing units, or once the current leases expire, you could take over the entire property. The main home offers an inviting covered front porch and a beautifully landscaped, fenced-in front yard with sustainable xeriscaping and a soaring mature shade tree. The luxurious interior features an open floor plan for the living room and kitchen with high-end designer fixtures, recessed lighting, and tile plank floors throughout. Featuring two gorgeous bedrooms with walls of windows that bring in an abundance of natural light. French doors off the living room open into a bright and peaceful home office. The spectacular kitchen boasts granite countertops, stainless appliances, a gas range, a breakfast area, and inviting breakfast bar seating on the kitchen peninsula. The bathroom has been beautifully updated with a contemporary vanity and a large walk-in shower with designer tile backsplash. The gorgeous income units behind the main home include the upstairs Unit B, which features a gorgeous deck for outdoor living & entertaining, and Unit C below, which offers a lovely patio space under the deck. Both units offer 2 BD/1BA each and open floor plans for the living and kitchen spaces with recessed lighting and tile plank floors. The kitchens feature granite countertops and stainless appliances. Behind the rental units is a gorgeous backyard with a storage shed, green grass, and a xeriscaped firepit area. This fabulous location is just minutes from Downtown Austin and close by some of Austin’s hippest restaurants, shops, and entertainment options in all directions.

East Austin is the only neighborhood in the city where you can walk from a James Beard Award-winning restaurant to a converted warehouse gallery to a live music venue to a craft cocktail bar without ever getting in your car. That walkability, combined with a building boom that has reshaped the housing stock over the past decade, makes East Austin the most dynamic real estate market in Central Texas.

East Austin stretches from I-35 on the west to Highway 183 on the east, with Lady Bird Lake forming the southern boundary and roughly MLK Boulevard marking the northern edge of the 78702 core. The 78722 zip extends the identity further north and east. Downtown is immediately across I-35 - five minutes by car, 15 by bicycle. East Cesar Chavez, East 6th, and East 7th serve as commercial corridors, each with its own personality. East Cesar Chavez leans toward taquerias and family shops, East 6th trends cocktail bars and restaurants, East 7th mixes galleries with newer retail.

Modern townhomes and duplexes make up about 35% of sales activity, concentrated on infill lots. Original shotgun bungalows and Craftsman homes account for 25%, mostly on quieter streets east of Chicon - typically 800 to 1,200 square feet on generous lots with ADU potential. Contemporary custom homes represent 15%, with architects like Bercy Chen and Alterstudio producing some of the most interesting residential design in Texas. Unrenovated bungalows start in the mid-$400s. Renovated historic homes with ADUs land between $700,000 and $1 million. New townhomes cluster around $600,000 to $900,000. Custom builds cross $1.5 million.

East Austin falls within Austin ISD. Zavala Elementary and Blackshear Elementary handle early grades. Martin and Kealing Middle Schools are the primary options, with Kealing's magnet program drawing students districtwide. Eastside Memorial High School serves the area, though many families opt for LASA, private schools, or open-enrollment options. The school landscape is more complex than in neighborhoods with a single feeder pattern, and specific addresses matter.

The lifestyle is what people picture when they think of modern Austin. Morning starts at Cenote or Fleet Coffee. Franklin Barbecue's line forms early, but locals order ahead. The dining concentration is remarkable. Suerte does modern Mexican with in-house nixtamal. Nixta Taqueria won a James Beard Award. Launderette turns a converted laundromat into one of Austin's best brunch spots. Canje brings Caribbean cooking to Holly Street. Kemuri Tatsu-Ya fuses izakaya with smokehouse. Via 313 has been making Detroit-style pizza since before the current boom. The Butler Trail, Boggy Creek Greenbelt, Roy Guerrero Park, and Mueller Lake Park provide outdoor options.

East Austin offers urban density and walkability unmatched outside downtown, at prices that undercut the west side significantly. Compared to South Congress, it provides more housing variety and better value per square foot. Compared to Mueller, it trades master-planned orderliness for more character. The main concerns are the pace of change and the east-west infrastructure divide, which has narrowed but still shows in some areas.

East Austin is for buyers who want to live in Austin's cultural energy rather than commute to it. It fits people who eat out frequently, bike to work, and value diversity of experience. It works for investors who see ADU potential in the generous lots. If you need a large lot, a quiet cul-de-sac, or a top suburban school, look elsewhere. But if you want to walk out your front door and feel the pulse of what makes Austin different from every other Texas city, there is no better address.