1507 Woodlawn, Austin, TX 78703

Located in historic and prestigious Old Enfield on the wide Woodlawn Boulevard, this fourplex property presents a rare investment or redevelopment opportunity. All units have been fully leased for the past 15 years and remain in their original condition. Just down the street from the historic Pease Mansion, this property is ideal for investors looking to reimagine the space or capitalize on its existing features. Central location and proximity to downtown make this an ideal redevelopment to multifamily OR single-family home. Demo and rebuild. Renovate and upgrade. Clarksville favorites just 2-3 blocks away, Fresh Plus Grocery, Josephine House, Jeffery's, Cippolina, Medici Coffee House, lots more.

The strongest fact here is the land position: 1507 Woodlawn offers a 0.2268-acre site in Old Enfield, Austin 78703, with a price of $1.00M and clear optionality in a part of Central Austin where lot availability, school path, and redevelopment potential tend to drive long-term value. The property sits within Austin ISD, with Casis, O Henry, and Austin High assigned, which matters for both end-user planning and future resale. In market terms, that combination of address, acreage, and school alignment is what gives this offering leverage.

The existing improvement is described as a fourplex that has stayed fully leased for the past 15 years and remains in original condition. That history does two things. First, it confirms the site has supported consistent occupancy over time. Second, it frames the decision in practical terms rather than cosmetic ones. This is not a listing where the value case depends on surface updates or staged presentation. It is a land-driven opportunity with multiple rational paths: hold and collect income while planning, renovate and reposition, or clear the site for a new multifamily or single-family build. The current classification as Land - See Remarks supports that reading.

Location is the other hard advantage. The property is set on wide Woodlawn Boulevard in Old Enfield, with the historic Pease Mansion down the street and established Clarksville destinations within a few blocks, including Fresh Plus Grocery, Josephine House, Jeffrey's, Cipollina, and Medici Coffee House. That context matters because sophisticated buyers do not separate the parcel from the daily pattern of the neighborhood. Access to these established anchors, along with proximity to downtown, strengthens both usability and exit strategy. It is the kind of central placement that can support more than one product type without asking the next owner to manufacture a story the location does not already support.

At 509 days on market, this is a property that rewards a clear view of what it is: not a turnkey house, but a scarce in-town site with existing income history, recognizable neighborhood identity, and room for a more ambitious next chapter. For a buyer focused on land quality, school trajectory, and future positioning in one of Austin's most established central neighborhoods, 1507 Woodlawn is best understood as a basis trade with real long-range upside.

Old Enfield is where the Whole Foods flagship store opened in 1980, back when the neighborhood was a quiet collection of historic homes and natural foods seemed eccentric. That original store at Lamar and 5th has since grown into a global headquarters, but Old Enfield has remained essentially the same. The houses got more expensive, but the character held. Pecan trees still shade the sidewalks, and people still walk to get groceries.

The neighborhood occupies some of the most centrally located residential land in Austin, bounded by Shoal Creek to the east, MoPac to the west, 15th Street to the north, and 5th Street to the south. Downtown is not a commute from here. It is a walk. The Capitol building is about a mile and a half east. You can walk to Whole Foods, BookPeople, and the restaurants on West 6th without starting a car. The 78703 zip code covers Old Enfield and adjacent Pemberton Heights and Bryker Woods.

The housing stock reads like a textbook of early 20th century American architecture. Colonial Revival accounts for roughly 30 percent, with symmetrical facades and columned entries from the 1920s through 1940s. Tudor Revival makes up about 20 percent, with steep rooflines and decorative half-timbering. Spanish Eclectic represents 15 percent, Mid-Century another 15 percent, and the balance includes Craftsman bungalows and newer custom builds. Lots are modest by suburban standards, typically 6,000 to 12,000 square feet. Unrenovated originals start around $1.2 million, maintained period homes trade between $1.8 million and $3 million, and fully renovated properties push past $5 million.

Austin ISD serves Old Enfield, with Casis Elementary as the neighborhood school. Casis has a strong reputation and active parent community. Students feed into O. Henry Middle and Austin High, which sits along Lady Bird Lake close enough for students to walk. Private options including St. Andrew's Episcopal and Griffin School are within a short drive. The University of Texas campus puts cultural and academic resources within reach.

Mornings start at Deep Eddy Pool, the spring-fed public pool at the southwestern corner that has been open since the 1930s. Swimmers do laps in cold, clear water year-round. Pease Park runs along the northern boundary with 84 acres of green space. Shoal Creek Trail connects to downtown and points north. Jeffrey's has served refined American cuisine on West Lynn since 1975. Josephine House handles brunch and cocktails. Cipollina serves Italian-influenced sandwiches and pastries. Clark's Oyster Bar provides coastal fare. Bar Peached brings Southeast Asian flavors, and Uchi, the James Beard-recognized Japanese restaurant, is a short drive south.

Old Enfield's position is defined by scarcity. Tarrytown to the north offers similar walkability with larger lots and higher prices. Clarksville to the east is smaller with more commercial encroachment. Pemberton Heights trades at a premium for slightly larger lots. South of Lady Bird Lake, Zilker and Barton Hills offer outdoor amenities but lack the walkable restaurant density and architectural heritage. The limiting factor is inventory. Homes rarely come to market because owners hold them for decades.

Old Enfield is for buyers who want to live in Austin proper, not adjacent to it. If your ideal week involves walking to dinner, swimming laps in a spring-fed pool before work, and browsing BookPeople on Saturday without starting your car, this makes that real. It suits people who value architectural character and accept the trade-offs of older homes. Families at Casis, downtown professionals, and anyone who defines luxury by proximity and character rather than square footage will find this is exactly what they are looking for.