Cash-flowing income property in East Austin's Grant Park/East MLK neighborhood, minutes from Mueller and downtown. Owner financing available at 4.99%. The main house (Unit 1) offers 3 bedrooms and 1 bath in approximately 1,024 square feet, built in 1957, leased through June 2027 with a long-term tenant in place, and recently updated with a new roof, HVAC, water heater, and water/sewer lines. The side-entry ADU (Unit 2), built in 2021 and City of Austin permitted, is a 1-bedroom, 1-bath studio with soaring 15-foot vaulted ceilings, a private entrance, and its own fenced yard, operated as a mid-term rental with income that varies seasonally. Set on a spacious 0.25-acre lot, this property offers multiple paths forward: hold for cash flow, remodel, or redevelop to maximize rental income in one of East Austin's fastest-evolving corridors. Seller financing may be available to qualified buyers, inquire with listing agent for details. Buyer and buyer's agent to verify all information.
MLK, located between I-35 and Airport Boulevard, is a residential and cultural Austin neighborhood with a grid of historic bungalows and a growing arts corridor. The neighborhood’s character concentrates around the MLK Jr. Boulevard and Chicon Street area, where murals, small galleries, and patio-friendly eateries set a street-level rhythm. The George Washington Carver Museum anchors local history and programming. Nearby, the East Austin Studio Tour route and the Canopy creative complex add open-studio energy. Streetscapes mix older cottages with newer infill, and pocket parks break up the blocks. The MetroRail at MLK Station ties the area to downtown without changing its grounded feel.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Ceiling fans
High ceilings
Main-level primary bedroom
Bedrooms
Three main-level bedrooms
Bathrooms
Two full bathrooms
Kitchen
Gas cooktop
Range hood
Dishwasher
Disposal
Refrigerator
Laundry & utility
Stacked washer/dryer
Inside laundry with laundry closet
Washer hookup
Electric dryer hookup
Tankless water heater
Vented exhaust fan
Flooring
Tile
Wood
Heating & cooling
Central heating
Ductless heating
Central air conditioning
Ductless cooling
Exterior features
Private yard
Exterior steps
Large trees
Home design
Single-story home
Faces east
Resale property
Parking
Attached carport
Carport
Driveway
Gravel parking areas
Off-street parking for three vehicles
Construction
Built (per public records)
Cement siding and frame construction
Asphalt and metal roofing
Pillar/post/pier and slab foundation
Guest house / second residence on property
Utilities
Electricity connected
Natural gas connected
Public water
Public sewer
Electricity and solar
View estimated energy costs and solar savings for this home
Looking for a fixer, inside of Springdale with loads of potential & a huge lot? We have a gem waiting for you! Come put your special touches on this rare property. With just over . 25 acres, you can expand the home, create a large garage/workshop, or keep the large open space as it is. Would you be interested in two homes? The home next door is also for sale (same owner) & has just as much potential. Available @230k, w/ about the same size lot, just a tad smaller on the interior sqft. Check out both today!Restrictions: Yes
Family residence (SF-3) district is the designation for a moderate density single-family residential use and a duplex use on a lot that is a minimum of 5,750 sq ft. An SF-3 district designation may be applied to a use in an existing single-family neighborhood with moderate sized lots or to new development of family housing on lots that are 5,750 sq ft or more. A duplex use that is designated as an SF-3 district is subject to development standards that maintain single-family neighborhood characteristics.
Zone overlays
Airport Overlay Zones
Permitted uses
Include but are not limited to:
Agriculture-Other
Assembly/ meeting place
Garden center
Day care facility
Housing-Single unit
Housing-Multiple units
Housing-Senior
Bed & breakfast
Educational/school
Communications tower
Jan 12, 2022 • Final
Building
Construct a new one-story secondary apartment with one bedroom and one bathroom.
ADU
New construction
Nov 30, 2021 • Final
Plumbing
Construct a new one-story secondary apartment with one bedroom and one bathroom.
ADU
Plumbing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Local insights from Redfin agents
East Austin remains one of the city's most sought after areas because buyers want to be close to downtown while enjoying the local restaurants, coffee shops, breweries, and creative energy. For many, the lifestyle justifies paying a premium over...