Asking Price: $5,250,000

Exceptional Development Opportunity in East Austin's Rosewood Neighborhood Discover an exceptional development opportunity in the heart of East Austin's coveted Rosewood neighborhood. This rare 2.23 +/- acre property, located in the highly desirable 78702 zip code, offers multifamily developers a prime location near the bustling intersections of Oak Springs Drive and Airport Boulevard. Bordered by a 6-acre tract of city-owned land to the east, this site provides an added layer of privacy and tranquility. With dual access points via Harvey Street and Sol Wilson Avenue, the property offers convenient ingress and egress options, with Sol Wilson Avenue offering a beautifully wooded driveway with new construction townhomes that enhance the approach to the site. Currently zoned MF-3 (Multifamily Residence Medium Density), the site accommodates a maximum density of up to 36 units per acre, ideal for medium-density residential projects. Development guidelines allow for 55% building coverage, 65% impervious cover, and building heights up to 40 feet, giving developers ample flexibility in design and construction. The topography of the land is perfect for creating a modern enclave of architecturally distinct residential buildings, offering potential views of downtown Austin to the west and park views to the south. The property's natural beauty is further accentuated by mature live oak, elm, and sycamore trees, providing a picturesque setting for future residents. With the growing demand for quality housing in East Austin, this property stands out as a prime investment opportunity. Developers are encouraged to conduct a feasibility study to determine the highest and best use of the lot and to explore the full potential of buildable units. Seize this chance to develop a standout residential community in one of Austin's most vibrant and sought-after​​‌​​​​‌​​‌‌​​​‌​‌​​​​​‌​​‌‌​​​‌​‌​​​‌​‌ neighborhoods.