700 & 604 Corral Ln, Austin, TX 78745
sale
$1,349,000
|
Other
Courtesy Of Texas Ally Real Estate, LLC
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.
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Property Features
- Age: Over 50 Years Old
- Exterior Type: Brick
- Exterior Type: Frame
- Legal Description: LOT 25 BLK A CIRCLE S RIDGE SEC 1 & LOT 26 BLK A CIRCLE S RIDGE SEC 1
- MLSID: 2767810
- Parking Spaces: 10
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