Income-Producing South Austin Compound with Redevelopment Potential Discover a rare opportunity in one of South Austin’s most vibrant and connected neighborhoods. This income-producing compound on an oversized corner lot generates up to $4,800 per month and is zoned SF-3, falling under the new City of Austin HOME Phase 2 zoning regulations for 1,800 sqft lots — offering the potential for 7 lots (Buyer to verify). Whether you’re an investor seeking strong rental income or a developer exploring future possibilities, this property delivers both versatility and value. The front 2-bedroom, 2-bath home offers comfortable living with charm and functionality, while the back building includes two 1-bedroom, 1-bath apartments. The upstairs apartment features a private deck tucked among mature trees, giving it a unique, treehouse-like vibe that tenants love. Enjoy a prime South Austin location where everything you love is just minutes away — walk or bike to El Chilito, Randall’s Grocery, and Radio Coffee & Beer, or take a quick 10-minute drive to Downtown Austin, Zilker Park, Barton Springs, and the Barton Creek Greenbelt. This is a one-of-a-kind investment with endless potential in the heart of Austin’s coolest corridor.
Features of 000 Diane Dr
MLS® #
6325971
Price
$950,000
Bathrooms
0.00
Acres
0.31
Type
Land / Farm
Sub-Type
Unimproved Land
Status
Active Under Contract
Has Pool
No
Water Feature/View
View
Neighborhood,Panoramic
Is Waterfront
No
Community Information: Austin
Address
000 Diane Dr
Area
10N
Subdivision
Ford Place 2
City
Austin
County
Travis
State
TX
Zip Code
78745
Amenities of 000 Diane Dr
Utilities
Electricity Available, Natural Gas Available
Features
None
Interior of 000 Diane Dr
Fireplace
No
Exterior of 000 Diane Dr
Exterior Features
Balcony, Private Yard, See Remarks
Lot Description
Corner Lot, Level, Trees Large Size, Trees Medium Size, Xeriscape
School Information
District
Austin ISD
Elementary
Joslin
Middle
Covington
High
Crockett
Additional Information On 000 Diane Dr
Days on Market
261
Foreclosure
No
Short Sale
No
RE / Bank Owned
No
Gated Community
No
Property History
Status Changed from Active to Active Under Contract
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing Data Provided By: Keller Williams Realty(512) 751-6060. Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from September 21st, 2026 at 6:30am CDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market. All information provided is deemed reliable but is not guaranteed and should be independently verified.
