2606 Salado StAustin, TX 78705

This exceptional 7,289 square foot property, situated on a 0.25-acre lot in Austin's coveted UNO overlay district of West Campus, presents a rare chance for high-density development. Located a short 10-minute walk from the University of Texas, this site offers unparalleled proximity to a vibrant student population and the university itself. Currently improved with a five-unit apartment complex, each unit boasts four bedrooms and two bathrooms. All units are currently leased, providing immediate cash flow with leases extending until July 31st, 2025. This represents a significant advantage for investors seeking both immediate return and long-term development potential. The property's zoning within the UNO overlay allows for the construction of a high-rise building, capitalizing on the area's high demand for housing and its strategic location near the university. This is one of the last remaining opportunities to develop a high-rise in this highly sought-after West Campus location. The asking price for this exceptional property is $7,000,000. An adjacent property, 2609 San Pedro, is also available for purchase, offering an additional 4,794 square feet of land for $3,000,000. The combined properties present an even more compelling opportunity for large-scale development.