504 E 38 1/2 ST # 506, Austin TX 78751

Located just steps from the historic Hancock Golf Course and some of Austin’s most beloved eateries, this unique property offers incredible flexibility, charm, and investment potential. Situated on a 10,890 sq ft lot with alley access, you’ll find three separate 1 bed / 1 bath homes, each with their own kitchen and living space—ideal for generating income or future development. The back cottage, thoughtfully rebuilt in 2014, is quiet and cozy with a private fenced yard. It features modern finishes including granite countertops, solid bamboo flooring, vaulted ceilings, and natural light. This updated home also includes a tankless gas water heater, central HVAC, washer/dryer, dishwasher, refrigerator, and more—perfect for an owner-occupant or as a high-demand rental. The two front cottages are full of charm, maintaining their original hardwood floors and vintage character. Both homes are equipped with European-style combo washer/dryers for convenience. Parking is a breeze with a 2-car carport in front and alley-accessed parking for the back house. The incredible location is a 1/2 block to Hancock Golf Course, jogging trails, and beloved neighborhood spots like Asti, Vino Vino, Hyde Park Bar & Grill, and more. Just minutes to UT and downtown Austin. Whether you’re an investor looking for steady cash flow, a homeowner seeking a central property with income potential, this one-of-a-kind property delivers.