4312 Avenue A - Hyde Park Redevelopment Multi-Family Site 0.21 Acres of Commercial Land Offered at $3,140,820 CAD in Austin, TX 78751

4312 AVENUE A is zoned MF-3-NCCD-ETOD-DBETOD-NP (Multifamily Residence, Medium Density-Neighborhood Conservation Combining District-Equitable Transit Oriented Development-Density Bonus ETOD-Neighborhood Plan). The recent rezoning of this property presents an extraordinary opportunity to redevelop the site into a one-of-a kind luxury residential project unlike anything else in the neighborhood. The subject property is a 75’ x 125’ corner lot with alley access located at the intersection of West 44th and Avenue A, just one block from the planned light rail station to be built at the corner of 45th Street and Guadalupe.A recent redevelopment feasibility study conducted by Land Answers, Inc. indicates that this multi-family building site can support a five-story building with a height of 70 feet, comprising 20 residential units averaging 1,156 square feet each, and a total floor area of 25,780 square feet, plus 11 covered parking spaces. The zoning regulations for this 9,370 square foot corner lot permit up to 60% impervious cover—approximately 5,625 square feet—and a maximum building footprint of 5,156 square feet. According to Development Planning Consultant, Jim Wittliff, the proposed project is well-suited for the newly approved building code, which allows construction of single-staircase buildings up to five stories in height. A copy of Land Answers, Inc. report is available upon request.
The subject property’s unique location is highly desirable as it is situated adjacent to both the Hyde Park Historic District and the light rail transit corridor leading to the University of Texas and downtown Austin. Located in a rapidly appreciating area, this property enjoys proximity to numerous local amenities within a half-mile range such as the Triangle development with many restaurants, Central Market retail center and Heart Hospital, Hyde Park’s neighborhood Shipe Park and Pool, the Hancock Golf Course, and the 5-star Commodore Perry Estate Resort. According to walkscore.com, the availability of nearby amenities makes Hyde Park one of the most walkable and bikeable neighborhoods in Austin with a Walk Score of 84 and a Bike Score of 94.
It is important to note that the subject property is located outside of the Hyde Park Historic District. The current property owner is seeking a nearby location for the existing 1934 bungalow to be relocated as part of the redevelopment process. Buyer agents welcome- 3% BAC