1406 Summit St, Austin, TX 78741

Charming Home with 2 Income-Generating ADUs, Just Minutes from Downtown Austin! This unique property combines a spacious main house with two income-generating accessory dwelling units (ADUs), located just minutes from downtown Austin and Lady Bird Lake. Whether you're looking to live in the main house and generate rental income or host guests, this property offers great flexibility and the opportunity to offset mortgage costs significantly. Key Features: -Total Property Size: 11,325 sq ft lot with 2,292 sq ft of living space and a view of downtown Austin. Walking distance to Lady Bird Lake and many restaurants. -Main House (1,522 sq ft): A charming 4-bed, 2-bath home featuring a cozy dining room, covered porch, and plenty of natural light. Perfect for comfortable living. Currently leased through July 2026. -ADU #1 (385 sq ft): A stylish first-floor studio with its own entrance and a vibrant Austin-inspired mural. Ideal for guests or additional rental income. -ADU #2 (385 sq ft): A second-floor studio with a unique Willie Nelson mural, offering both charm and functionality. Great for short-term rentals or a private retreat. -High Income Potential: All three units are currently rentals, providing a steady stream of income. -Zoning & Future Potential: Zoned SF3/MF4, allowing for multi-family development with options to expand or build additional units—offering long-term growth potential. Set on an 11,325 sq ft lot, this property offers the perfect balance of immediate comfort and future possibilities. Live in the main house while enjoying reliable rental income from the ADUs, or explore the potential for expansion in Austin's rapidly growing market. Whether you're an owner-occupant or looking to maximize rental income, this property provides the best of both worlds. Don’t miss out—schedule a tour today and discover all the potential this property has to offer!

Built in 1938, the main residence at 1406 Summit Street in the Austin neighborhood represents a carefully preserved snapshot of Austin's pre-war architecture, now thoughtfully restored with modern systems that respect its original character. The 2,292 square foot home sits on a 0.26-acre lot anchored by mature trees exceeding 40 feet, creating a shaded retreat just minutes from downtown Austin and Lady Bird Lake. At $899,000 ($392 per square foot), this property uniquely combines a primary residence with two income-generating accessory dwelling units, a configuration increasingly valuable in Travis County's tight housing market.

The main house itself spans 1,522 square feet across six bedrooms and four full bathrooms, with the primary bedroom positioned on the main level for accessibility and convenience. Original masonry and wood siding elements have been retained, while interior updates include wood and tile flooring, a gas range, and modern kitchen appliances integrated into an eat-in kitchen layout. Multiple dining areas and a covered rear porch extend living space, preserving the home's original flow while adding functionality modern families expect. The restoration prioritized keeping the home's 1938 soul intact rather than stripping it for contemporary aesthetic trends.

Two studio-style ADUs (385 square feet each) occupy the property's remaining space, currently generating rental income through both long-term leases and short-term holiday rentals. The first-floor unit includes its own entrance; the second-floor unit offers separate access and distinct character. All three units are leased and operational, providing immediate cash flow that offsets carrying costs. The property zoning of SF3/MF4 opens expansion possibilities for future development, though current configuration already maximizes the lot's utility.

Location matters here. The property sits within walking distance of Lady Bird Lake's trail system and sits in the Austin ISD attendance zone for Travis Heights Elementary, Lively Middle School, and Travis High School. Downtown Austin is approximately 10 minutes south via I-35. The property's 117 days on market reflects both its specialized appeal (investor-owner hybrids attract a narrower buyer pool) and the complexity of valuing multi-unit properties in a single-family zoning context.

This is a working property, not a trophy house. It generates income today while preserving the architectural integrity that made pre-war Austin neighborhoods distinctive. For buyers seeking both personal residence and revenue stream, the Austin location and restored structure deliver practical value.