4312 Avenue A, Austin TX 78751,Austin,Travis,Land

Description

House is occupied. Do not walk the property without confirming appointment with agent. Interior of house will not be shown until under contract.
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 feasibility study by Land Answers, Inc. indicates that the 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 the planning consultant, 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 such as the Triangle, Central Market, Heart Hospital, Shipe Park, Hancock Golf Course, and 5-star Commodore Perry Estate Resort. Seller is seeking nearby location to relocate existing 1934 bungalow.