1818 Ashby Ave, Austin, TX, 78704

Rare opportunity to own a charming 1960s 3-bed/2-bath, 1039 sqft home on a flat .166-acre lot (7,218 sqft) in the highly coveted Zilker neighborhood - the premier neighborhood in Old West Austin. This property presents an incredible opportunity to restore its original charm or redevelop with a fabulous new home and income-producing ADU. Currently zoned SF3 and located on a popular street in the heart of 78704, the property is surrounded by new developments and offers great STR/VRBO/Airbnb potential, making it an excellent way to earn income while going through the city's redevelopment permitting process. This property boasts amazing potential for an Austin skyline view from a second-story new build. The home is currently furnished and livable, slightly updated, and well-kept, making it perfect for long-term tenants. It has earned substantial income from short-term rentals and extended stays over the last two years. Living in Zilker means immersing yourself in the true South Lamar ‘04 Austin lifestyle that everyone hears about and images but only a few get to live. The location is unbeatable! You are within walking distance from Barton Springs, Zilker Park, Hike & Bike trails around Lake Austin, Green Belt access, South Lamar shopping, dining, and entertainment. Enjoy popular restaurants such as Uchi, Broken Spoke, Saxon Pub, and Maudie's, as well as entertainment venues like Alamo Drafthouse. Minutes to downtown, Whole Foods, 6th St, REI, Book People, and easy access to major roads and highways including I-35, 290/71, and MoPac. This is your chance to own a piece of Austin's heart and enjoy everything this incredible city has to offer. Don't miss out on this fantastic opportunity!