An extraordinary opportunity awaits you in the heart of Austin, Texas – a vibrant city known for its energy, culture, and thriving real estate market. Get ready to embark on an exciting journey of house hacking and potential future condo development in one of the most sought-after locations in the country.
Location, Location, Location: This covered land play is strategically positioned near the University of Texas, Downtown Austin, and the bustling Mueller Development. With its prime location just south of Hyde Park, you'll have access to an array of amenities, entertainment options, and a vibrant community that attracts both residents and visitors alike.
House Hacking at Its Finest: For first-time investors looking to dip their toes into real estate, this tri-plex property offers an ideal opportunity for house hacking. You can live in one of the units while renting out the other two, generating passive income that helps offset your living expenses and mortgage costs. This savvy strategy ensures you build equity and wealth while enjoying the perks of living in a dynamic urban environment.
Steady Stream of Income: With two of the three units already leased on a month-to-month basis, you can start benefiting from a steady stream of income from day one. As you proceed with your plans for new construction and development, the existing leases will continue to provide financial stability throughout the design and permitting process.
Endless Possibilities: This is where the excitement truly begins! You have the freedom to explore various options for development. You can choose to renovate the existing structure and add a new structure on the front portion of the lot for a partial redevelopment, catering to the diverse needs of the Austin market. Alternatively, you can embark on a complete tear-down and redevelop this sizable, flat centrally located lot into a modern and high-demand condominium project or new construction rental properties.
