TWO RESIDENCES ON ONE LOT: Nestled in the heart of sought-after 78704, this unique property offers an exceptional opportunity just minutes from downtown Austin on an expansive nearly half-acre lot (. 47 acres / 20,473 sqft) zoned SF-3. TWO RESIDENCES ON ONE LOT situated just off Oltorf and moments from South Lamar and South 1st, the property combines privacy, mature trees, and an unbeatable central location. Austin favorites like Loro and The ABGB are just a short walk away, along with great coffee shops, shopping, and entertainment. Whether you’re looking to live in the heart of it all, invest in an income-producing property with tenants in place, renovate or build, the oversized lot and prime location create endless potential. The property includes two residences, making it ideal for a variety of opportunities—from a buy-and-hold investment to future redevelopment. Surrounded by new construction, the area continues to attract both renters and homeowners alike. The original structure, built in 1952 and renovated in 2003, is a charming 2-bedroom, 1-bath home offering 780 sqft, covered porches, and a fenced front yard. The second structure, built in 2007, is also a 2-bedroom, 1-bath residence with approximately 900 sqft, featuring abundant natural light, hardwood flooring, and inviting indoor-outdoor living spaces. Both homes include in-unit laundry and dedicated parking. Don’t miss this rare opportunity to own a substantial piece of land in one of Austin’s most established and desirable urban neighborhoods, offering incredible flexibility, strong investment potential, and long-term value. All information provided is deemed reliable but not guaranteed, is subject to change and should be verified independently by buyer and buyer's agent.
South Lamar, located between Lady Bird Lake and Ben White Boulevard, is a walkable and entertainment-forward Austin neighborhood with a strip-mall-meets-bungalow streetscape and a late-night dining scene. The neighborhood’s character concentrates around South Lamar Boulevard near Alamo Drafthouse Cinema, where marquees, patios, and food-truck lots keep the sidewalks in motion. Alamo Drafthouse Cinema, Uchi, and The Broken Spoke anchor the area’s cultural rhythm. Mid-century apartments and newer mixed-use buildings line the corridor, while side streets hold older cottages and small courtyards. Pocket parks and the nearby lake trail shape daily routines. The terrain rises toward Zilker, with skyline views appearing between live oaks.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Ceiling fans
Main level primary bedroom
Recessed lighting
Bedrooms
Two main-level bedrooms
Bathrooms
One full bathroom
Kitchen
Dishwasher
Range
Refrigerator
Stainless steel appliances
Laundry & utility
Dedicated laundry room
Gas water heater
Flooring
Tile
Wood
Heating & cooling
Central heating
Central air
Exterior features
Private yard
Rear covered porch
Porch
Guest house / second residence
Shed(s)
Partial front-yard fencing
Many medium-size trees
Interior lot near public transit
Has a view
Home design
Single-story home
Faces northwest
Updated / remodeled
Pillar/post/pier foundation
Parking
Driveway
Parking for 4 vehicles
Security
Security system
Construction
Built with HardiPlank-type siding
Metal roof
Utilities
Electricity connected
Natural gas connected
Public water
Public sewer
Electricity and solar
View estimated energy costs and solar savings for this home
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.
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
Apr 7, 2009 • Final
Building
Construct a new one-story detached two-family residential building.
New construction
Apr 7, 2009 • Final
Mechanical
Construct a new one-story detached two-family residential building.
HVAC
New construction
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
Many buyers want to stay close to downtown without paying 78704 prices. Neighborhoods like 78745, 78748, and 78749 continue to attract buyers looking for parks, local restaurants, mature trees and a shorter commute while still getting more house for...