2404 Rio Grande St Austin, TX

The Parker House is a historic residence located in the West Campus submarket of Austin. Constructed in 1911, according to the Travis Central Appraisal District, the property is designated as a historic structure, offering protection against demolition or extensive renovations without approval from the city's Department of Historic Preservation. The garage apartment, added in 1957, is identified as a teardown. The property offers proximity to the University of Texas, Downtown, Shoal Creek Greenbelt Trail, and local retail, bars, and restaurants. The site has ample space for potential construction of a low-rise structure. Versatile prospects range from a coffee house to a prospective bar (pending zoning approval) or an office space, all subject to tasteful integration and approval from historical preservation authorities. Other potential uses include student housing, condominiums, or a boutique hotel. The property presents a buy-and-hold investment opportunity, complete with ample parking. Situated just north of West 24th Street, a pivotal secondary corridor connecting the University of Texas from west to east, the property has a size of 3812 square feet. The West Campus submarket has consistently displayed robust demand for sites conducive to student housing development. Despite the dated nature of existing buildings, the demand for neighborhood office space remains resilient, with low vacancies and infrequent changes in ownership.