1614 Holly St

Property description

Fully Renovated East Austin Property | Income Today + Development Upside Rare opportunity to own a fully renovated 2-bedroom, 2-bath home in one of Austin's most desirable and rapidly evolving areas. The property provides an attractive combination of immediate income, future development potential, and long-term land play. The home is currently occupied by a month-to-month tenant who is willing to sign a long-term lease, giving the next owner flexibility to either maintain the current arrangement or lock in longer-term rental income, making this a terrific covered land play opportunity. The real value is in the land and optionality. Based on current development plans, there is potential to add two additional units in the rear of the property, creating an opportunity to increase density and rental income while retaining the existing renovated home. For an investor, this is a compelling land-covered investment: collect income from a fully improved property today while maintaining multiple paths for future value creation. Keep the existing tenant on a long-term lease, pursue the addition of two additional units, or simply hold the property for potential long-term land appreciation. Highlights include: fully renovated home, 2 bedrooms and 2 bathrooms, existing month-to-month tenant willing to sign a long-term lease, immediate rental income, potential for two additional units, and significant long-term redevelopment optionality. A unique opportunity to acquire a cash-flowing property with embedded development potential in Austin. Buyer to independently verify zoning, development potential, permitting requirements, and ability to construct additional units.