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Jeannette Spinelli

Broker Associate & Founder | Spinelli Residential Group | KW - Austin Portfolio Real Estate

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1105 E 3rd St , Austin, TX 78702
$899,000
Est. Payment: $4,514.66/mo
5 Bed
3 Bath
1617 Sqft
Status: active | Days on site: 1
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Jeannette Spinelli
Broker Associate & Founder
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House Description

Exceptional redevelopment opportunity in the heart of downtown Austin, where location, flexibility, and future potential come together. With Austin's HOME Phase 1 and Phase 2 ordinances now in effect, this property presents an outstanding opportunity for investors, builders, and developers seeking to maximize one of the city's most desirable urban locations.Situated on a single parcel, the property currently features two residences: a front home of approximately 1,617 sqft and a detached 300 sqft efficiency apartment. Both units are vacant, providing buyers with the rare advantage of immediate possession whether the plan is to renovate, lease, occupy, or begin redevelopment without the delays and complications of existing tenants. The fully fenced property offers gated access from both the front and rear, creating secure on site parking and convenient access for future redevelopment. The current owner has commissioned architectural plans envisioning a potential 3 unit redevelopment or alternatively, plans to renovate, expand vertically, or reimagine the current improvements to suit a variety of investment strategies. With both dwellings vacant, investors also have the flexibility to complete updates and immediately establish market rate rental income. Buyers are encouraged to conduct their own due diligence regarding development potential, permitting, and applicable city regulations. Located just minutes from Rainey Street, Lady Bird Lake, downtown Austin, acclaimed restaurants, entertainment, shopping, and major employers, this property offers the rare combination of redevelopment flexibility, immediate usability, and long term appreciation potential in one of Austin's most sought-after neighborhoods. Whether you're looking to renovate, redevelop, or build from the ground up, this is a rare chance to capitalize on location, density potential, and long-term upside in one of Austin's most desirable urban cores.
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Highlights

Listed by Brandy Wuensch , (512) 917-3679 City View Realty , (512) 917-3679. Austin MLS mls logo

Property Type

Residential
Lot/Acreage
0.13

Year Built

1952

County

Travis

Area

5

 Neighborhood

Shelley N G

 School District

Austin ISD

Listing ID

2832948

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:5
  • ▪ Bathrooms:3
  • ▪ Full Bathrooms:3
Appliances:Washer/Dryer Stacked, Dishwasher, Free-Standing Gas Oven, Disposal, Microwave, Refrigerator, See Remarks
Floor:Carpet,Laminate,Tile
Other:Ceiling Fan(s),Kitchen Island,Main Level Primary,Recessed Lighting,Tile Counters
Other:Public,See Remarks

Exterior Features

Lot:Alley,Near Public Transit
Roof:Composition
Others:Resale
Sewer:Public Sewer
Parking Features:Alley Access,Carport,Off Street
Principal Interest
$4,515
Taxes
$1,285

Home Price

$899,000

Loan Details

30 yrs
6.434%

Down Payment

20%
$179,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,514.66

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,514.66 $1,284.92 $0.00 $5,799.58
Yearly $54,175.94 $15,419.00 $0.00 $69,594.94
Total $1,625,278.11 $462,570.00 $0.00 $2,087,848.11

Today's Rates

30 Year

6.43%

20 Year

6.23%

15 Year

5.8%

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Market insight data is pulled from the same city as the listing being viewed (Austin, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listings courtesy of Austin MLS as distributed by MLS GRID

IDX service by Blueroof 360

Data last updated: 2026-07-17T15:20:32.000Z

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