401 W Live Oak ST Austin, TX 78704

Listing details for 401 W Live Oak ST, Austin, TX 78704 : Rare income-producing and redevelopment opportunity in highly desirable 78704! Situated on an approximately 8,612 SF (.198-acre) corner lot in a prime Central Austin location, this versatile property offers three separate living spaces and approximately $6,600 per month ($79,200 annually) in current gross rental income, creating an exceptional opportunity for an investor, owner-occupant, or builder. The property offers approximately 2,533 SF per Travis County Appraisal District across three separate living spaces. The 1,104 SF main home features 2 bedrooms and 2 baths, while a separate rear building includes an approximately 879 SF upstairs 2-bedroom, 1-bath residence and an approximately 550 SF furnished 1-bedroom, 1-bath garage apartment currently operated as a short-term rental (STR). The three spaces currently generate approximately $6,600 per month in combined gross rental income, with the owner paying utilities. The property offers the opportunity to generate income from day one while providing meaningful value-add potential. The upstairs 2-bedroom unit has not been updated, creating an opportunity for a future owner to renovate and potentially increase rental income. Numerous improvements have been completed over the years, further enhancing the property's immediate income-producing appeal. For investors, the property can be held as a three-unit income-producing property, renovated to maximize rental income, or explored for future redevelopment. The approximately 8,612 SF corner lot may offer potential for three separate residences, subject to buyer verification of zoning, permitting, and development requirements. Ideally located just minutes from Downtown Austin and close to South Congress, South Lamar, Lady Bird Lake, restaurants, shopping, and entertainment, this is a rare opportunity to acquire an income-producing property with multiple paths to future upside in one of Austin's most sought-after neighborhoods.