Exceptional Investment Opportunity in Austin's Thriving 78721 Zip Code! Unlock the full potential of this prime sizable, vacant lot nestled in a peaceful cul-de-sac near the East Boggy Creek Greenbelt and trail system. This lot is well positioned to be able to take advantage of new City of Austin rules allowing up to three units and the shape and size is conducive to take full advantage of that new zoning rules. Boasting a $0 improvements basis, this property is tailor-made for Opportunity Zone (OZ) investors looking to make a significant impact. Strategically positioned to leverage Austin's projected growth, this lot offers the ideal canvas for those seeking to "Substantially Improve" and take advantage of the tax benefits provided by OZ legislation. Whether you're envisioning a transformative residential development or exploring other strategies, the possibilities are endless. Property recently appraised for $355,000 and the full appraisal is attached in the listing documents. Beyond its investment appeal, this lot is a haven for nature enthusiasts, located mere minutes from scenic trails and beloved East Austin hotspots. Enjoy convenient access to freeways, shopping, HEB, Lady Bird Lake, Downtown Austin, UT, Blue Starlight, and the Austin-Bergstrom International Airport. Seize this compelling opportunity to be part of Austin's vibrant future while reaping the rewards of a strategically chosen OZ asset. Your next venture awaits in one of the city's most sought-after neighborhoods! Buyer to verify deed restrictions details.
Property Type :
Residential
Subdivision :
Johnston Terrace Sec 02
County :
Travis
Style :
Residential
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ByOwner last updated this listing 04/29/2024 @ 04:26
MLS: 8132893
LISTED BY: Austin Stowell, Compass RE Texas, LLC
SOURCE: ACTRIS
Buyer Agency Compensation: 3%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
