1602 Elmira Rd
Austin, TX 78721
6 Miles from Tesla | East Austin · Land For Sale · 0.23 AC

This exceptional property in East Austin occupies a generous .223-acre lot, presenting a remarkable investment opportunity. Situated just minutes away from downtown, across from Mueller, and easily accessible via I-35 and Hwy 183/Ed Bluestein, this 2-bed, 2-bath residence offers a canvas for your customization. It holds the potential for an A & B unit configuration, making it an attractive prospect for future rental income. Adjacent to new development in the area and featuring a spacious, cleared, and flat back lot with horizontal privacy fencing already in place, this property offers ample expansion possibilities. Moreover, it provides the convenience of two separate driveways. A short distance of 9 miles to the Tesla Gigafactory, 7 miles to Bergstrom International Airport, and 4 miles to the University of Texas and Downtown Austin makes this location highly accessible. Importantly, it's not situated in a flood plain, ensuring peace of mind for your future development plans. Additionally, it's within walking distance to the public Morris Williams Golf Course and Givens Park, offering recreational options right at your doorstep. All utilities are readily available at the property. The City of Austin efficiently provides electric, water, sewer, and trash pickup services, ensuring hassle-free living. Additionally, Texas Gas Service conveniently supplies gas to meet your energy needs. Currently, Unit 1 boasts 4,013 sq. ft. and .092 acres, while Unit 2 (To Be Built) can encompass 5,629 Sq. Ft. and .129 Acres, promising extensive expansion potential. With the City of Austin imposing lot size requirements of either 5,750 sq. ft. (50' lot width) or 7,000 sq. ft. for a duplex, this property offers exceptional versatility for diverse uses such as an ADU, house, duplex, or condominium. The City of Austin's height restrictions, allowing for structures up to 35 feet, offer a wide range of development possibilities, complemented by 40% lot coverage and 45% Impervious Coverage. In accordance with the City of Austin's setback regulations, the property features a 25-foot front setback, 5-foot side setbacks (interior), 15-foot side setbacks (street), and a 10-foot rear setback. The seller is actively involved in establishing the 1602 Elmira Road Condominiums, including the formation of a nonprofit corporation to serve as the homeowner’s association. The property comes with a comprehensive set of documents, including the Environmental and Jurisdictional Regulation Report, Zonability Report, Foundation Report, Tree Removal Estimate, Land Survey, Condo Plat Map, Flood Disclosure Map, Title Commitment, Home Inspection Report, and Wood Destroying Report. These resources position this property for a well-informed and savvy investment. Explore the wealth of information under the documents section to maximize this exceptional opportunity.