Seeking help with the search for and acquisition of distressed, old, underutilized property in South Austin (between Zilker and I-35 & Riverside and Oltorf).
I intend to execute a tear down and/or implement significant additions to increase the density of an existing single family lot and/or small, old home. The goal is to create room for 2-3 families while creating a small, separate space for me to live in. I will consider re-zoning, if feasible.
I am looking to connect with others who know the zoning rules, have done similar projects in the neighborhood (Soco, Zilker, Travis Heights, Bouldin, South Lamar) and/or have access to distressed deal flow in the area.
I understand that cash returns are difficult to generate in this neighborhood. Investment returns are not my primary objective. I’m looking to subsidize my cost of living in the area while creating value through a moderate/heavy development project.
Thanks in advance for any insights, referrals, and /or lessons learned.
I have a few homes available in the area if your interested.
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