1508 Pease Rd, Austin, TX 78703

Located in one of Austin’s most storied and sought-after neighborhoods, 1508 Pease Rd offers a rare chance to secure a generous 9,667 sq ft lot in the heart of Old Enfield. Surrounded by grand estates and timeless architecture, this SF-3 zoned property provides endless possibilities for redevelopment or restoration.

Whether you envision crafting a custom single-family home or exploring a duplex design to maximize value, the setting is second to none. The existing 1932-built residence—a charming 3-bedroom, 1-bath home—is tucked beneath mature trees and provides a starting point for your architectural imagination. With approved removal of the detached garage and a large tree in the backyard (permits in hand), the lot is ready for transformation.

Old Enfield is beloved for its blend of elegance and accessibility—moments from downtown, yet graced with quiet streets, heritage oaks, and a true neighborhood feel. Walk to nearby Pease Park, indulge at Austin’s finest restaurants, or simply enjoy the prestige and privacy that come with this iconic address.

Properties with this kind of potential in such a prime location rarely come to market—this is your invitation to create something extraordinary.

*Back structure has been demoed! Seller has a permit to remove the trees in the backyard.

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.