401 W Live Oak St, Austin, TX 78704

Rare 3-unit income-producing and redevelopment opportunity in the desirable Bouldin area of 78704, minutes from Downtown Austin! Situated on an approximately 8,612 SF (.198-acre) corner lot in prime Central Austin, this property generates approximately $6,600/month ($79,200 annually) in current gross rental income per seller, across three separate units - an exceptional opportunity for an investor, owner-occupant, or builder.

UNIT MIX:

Main House: +/-1,104 SF, 2BR/2BA, renovated 2021 Unit A (Rear Building, Upper): +/-660 SF, 2BR/1BA, large porch screened in 2021, washer/dryer, updated HVAC - leased to long-term tenants in place approximately 10 years Unit B (Rear Building, Lower): +/-660 SF including storage area, 1BR/1BA, furnished, washer/dryer - currently operated as a short-term rental (STR)

Each rear unit has its own private entrance and access to the gated yard. All three units are currently occupied; rent roll and lease details available upon request. Owner pays utilities. Parking for up to 7 vehicles. STR potential for the other units is subject to buyer verification of applicable city regulations, permitting, and requirements. SF per Travis CAD; approximate, buyer to verify.

Income from day one, with clear value-add upside: Unit A's interior has not been updated, presenting an opportunity to renovate and potentially increase rental income, and the storage area may be converted to expand Unit B's living space, subject to buyer verification of permitting. 2021 Main House updates include a remodeled bathroom, refinished original hardwood floors, fresh paint, new refrigerator, and foam insulation in the walls and under the house. Updated windows throughout.

Investment paths: hold as a stabilized income-producing asset, renovate Unit A and expand Unit B to increase rents, or pursue redevelopment. The corner lot may support redevelopment into up to three separate residences, subject to buyer verification of zoning.

Bouldin Creek has more James Beard Award nominees per block than any neighborhood in Texas. That is not an exaggeration you would find in a tourism brochure. It is a reflection of what happens when a formerly working-class neighborhood south of the river becomes the center of gravity for Austin's most ambitious restaurant talent while somehow keeping its tree-lined streets and quirky residential character intact.

The neighborhood occupies the triangle between South First Street, South Congress Avenue, and Oltorf Street in the 78704 zip code, with Lady Bird Lake forming its northern boundary. Downtown Austin is literally across the bridge. You can walk to the lake in five minutes, bike downtown in ten, and reach Austin-Bergstrom airport in about 20 minutes. Zilker Park and Barton Springs Pool are immediately to the west. The South Congress shopping and dining corridor runs along the eastern edge, which means you live adjacent to one of Austin's biggest tourist draws without actually being in the middle of it.

The housing stock tells the story of the neighborhood's evolution. About 35 percent of the homes are original Austin bungalows and Craftsman cottages from the 1910s through 1940s, many of them lovingly maintained or thoughtfully updated. Another 30 percent are modern custom builds from 2010 forward, the kind with clean lines, rooftop decks, and walls of windows that signal serious architectural intent. Mid-century ranch homes account for 15 percent, and you will find a scattering of L-plan cottages, contemporary townhomes, and duplex conversions filling the remaining gaps. Lot sizes are modest by Austin standards, typically a tenth of an acre or less for the older homes. Prices range from around $600,000 for a smaller bungalow needing work to well over $2 million for a new-construction modern on a corner lot. The price per square foot is among the highest in South Austin because you are paying for location as much as the structure.

Bouldin Creek falls within Austin ISD. The neighborhood school is Becker Elementary, with Fulmore Middle School and Travis High School serving the older grades. Austin ISD has faced enrollment challenges citywide, and some families in Bouldin do opt for private or charter alternatives. That said, Becker has an engaged parent community and a strong neighborhood identity. The proximity to UT Austin also means access to university-affiliated programs and resources that benefit the broader area.

The lifestyle here is defined by walkability and the density of independent businesses within a few blocks of home. Mornings might start at Bouldin Creek Cafe, the longstanding vegetarian spot that has been a neighborhood anchor for decades, or Elizabeth Street Cafe for Vietnamese coffee and pastries. Lunch could be Home Slice Pizza on South Congress or a smoked brisket plate at Terry Black's. For dinner, you are choosing between Lenoir's hot-weather food concept, Odd Duck's ever-changing farm-to-table menu, or Perla's patio for oysters and people-watching. On weekends, Barton Springs Pool is the communal living room. The West Bouldin Creek Greenbelt provides a shaded walking loop, and Zilker Park hosts everything from kite festivals to trail running. The neighborhood still has a strong creative identity, with working artists, musicians, and small business owners living alongside tech professionals and young families.

Bouldin Creek sits at a unique intersection in Austin's market. It is more expensive than Travis Heights to the east and Galindo to the south, but it delivers walkability and dining access that neither can match. Compared to Zilker, the lots are smaller but the neighborhood feel is stronger. Compared to Clarksville north of the river, you get a similar village character at a slightly lower price point with better restaurant density. The key distinction is that Bouldin is genuinely walkable to both Lady Bird Lake and South Congress without requiring a car, which is rare in Austin.

Bouldin Creek makes the most sense for buyers who prioritize daily walkability over square footage. If eating at a different excellent restaurant every night of the week without starting your car sounds like the right way to live, this is your neighborhood. It works well for couples, professionals, and smaller families who want to be in the center of Austin's food and cultural scene while still having a quiet, residential street to come home to. Larger families who need significant yard space or top-tier public school ratings may want to look further south or west, but for everyone else, this is as close to urban village living as Austin gets.