$835,000

Property Overview

This 7,056-square-foot lot in Bryker Woods presents a rare development opportunity steps from The Grove's shopping, dining, and entertainment. Located on 38th Street in one of Central Austin's most coveted neighborhoods, the property spans a generous, flat footprint with rear alley access ideal for custom home construction or significant renovation. The current structures—a 2-bedroom, 1-bath main residence and rear efficiency unit—require complete updates but demonstrate solid bones and previously generated $3,350 monthly in rental income, offering flexibility for investors or owner-builders.

The Bryker Woods location delivers immediate access to top-rated schools, the Shoal Creek Trail, and tree-lined streets that define this central corridor. While the property trades at $719 per square foot, substantially above the neighborhood's median, savvy buyers recognize the value anchored in land and location rather than existing structures. This rare offering attracts developers, investors, and custom builders seeking to reimagine a prime Austin address where established charm meets new-construction potential.

Vox Real Estate Insight

The Vox Real Estate team sees this as a textbook redevelopment play in one of Austin's most sought neighborhoods—the large, level lot with alley access dramatically expands design possibilities that command premium pricing in Bryker Woods. For clients prioritizing location and long-term appreciation in a tree-canopied, central neighborhood adjacent to The Grove's amenities, this property's highest and best use potential makes it exceptionally rare in today's market.

Agent Description

Amazing opportunity in a prime Central Austin location directly across from The Grove. This large, flat lot with rear alley access is ideal for a new custom home or a complete renovation. The property is being sold as-is, with the value primarily in the land. There are two structures on the property: a 2-bedroom, 1-bath main house and a nice efficiency unit at the rear. Both structures are solid but require a complete renovation. The property previously generated $3,350 per month in rental income in its current condition; however, the former tenants left it in poor condition. The highest and best use may be a teardown for new construction, although buyers looking for a major renovation project will also appreciate the property's potential. Its exceptional location directly across from The Grove places shopping, dining, parks, and entertainment just steps away, making this a rare redevelopment opportunity in one of Central Austin's most desirable areas.

Neighborhood: Bryker Woods

This property is located in Bryker Woods, Austin, TX. The area is known for Top Elementary School, Mid-Century Homes, Shoal Creek Trail, Tree-Canopied Streets, Central Location.

At $719/sqft, this listing is priced 39% above the Bryker Woods median of $516/sqft.

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