700 & 604 Corral LnAustin, TX 78745

Description

Ideal HOME / HOME2 development site. This 2.01+/- acre assemblage of two 1+/- acre city lots is in the sweet spot for size and density under the code, ideal for a mid-density entry level sale or single family rental development in the heart of Austin. Feasibility studies by LLVLL Design / Build projects up to 31 units @ 1650 sqft / unit, equating to over 51,000 buildable sqft, extracting maximum benefit from 90% FAR allowed under the code if used strategically. At 51k sqft land cost is under $30/sqft. Nice level site with easy access. Arborist indicates all existing trees can be removed. The existing homes are both occupied allowing for a low cost entry point leveraging conventional residential lending and substantial interim rental income while in the lead up to groundbreaking. One of both of the existing homes could be saved / renovated/ flipped to substantially lower the cost basis on the land with minimal impact to the total project unit count. I-35 Capital Express South project with easy access from both directions and a 2023 daily traffic count of over 190,000. Major infrastructure improvements related to the TXDOT effort just completed. Buyers to do all their own due diligence. Contact LA for more information.

Property Information

Property type

Commercial Sale

Year built

1959

Building area

3,881 Sq Ft

Lot size

2.01 acres

Parking spaces

10

Zoning

SF-2, HOME & HOME2 compa

Days on market

217

MLS^® Listing#

2767810

Property Features

Parking

None

Lot features

Level

Construction

Brick · Frame

Other structures

Residence · Second Residence · See Remarks

Utilities

Electricity Connected · Natural Gas Connected · Phone Connected · Sewer Connected · Water Connected

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$16,018Tax year 2025

Assessed value

$1,034,411

Parcel number

04240702020000

Directions

S I-35 FRONTAGE TO RIGHT ON CORRAL, FIRST TWO LOTS ON RIGHT. PLS DO NOT ENTER SITE WITHOUT APPOINTMENT AND AGENT PRESENT. BOTH HOMES ARE OCCUPIED.