Offering Description:
4 contiguous lots zoned MF-3 =+/-38,333sf of land (4-plex and house of negligible value on property). Infill “Tarrytown” Area. Buyer responsible for razing of existing structures if so desired. Current rental income is $2,200 on the fourplex.

Zoning:
Austin MF3 zoning allows up to 75% F.A.R., up to 40' height. Per such zoning, over 28,000 buildable square feet may be allowed on the tracts pending site plan approval.

Potential Uses:
3 lots are over 8400 sf (“duplex size”) and the 4th is over 6000 sf. This may allow a simple 7-unit development without altering existing lot lines. Various architectural studies have been drawn for 8 unit, 10 unit and 28 unit townhome or condo complexes.

Location:
Minutes from downtown and in one of highest priced residential property areas. May be the best small condo / townhome project available at this time.

Use:
Sales prices for condos and homes in this central Austin area range from $250 per square foot to well over $350 per square foot.

Utilities:
All City of Austin utilities are located at / on the various tracts.