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Texas  + Austin  + Apartments  | 
Austin's Rainey St holdout asking $10M for 950 SF house.

Tiny House on Austin’s Signature Street Listed for $10,000,000

Rainey Street has seen enormous growth in the past twenty years. Residential towers, one after the other, some 50 stories high, dominate the landscape of one of Austin’s top addresses. The days of finding land are almost over. But if you look close enough, you’ll see the last holdout. The asking price? $10 million.

Located at 701 River Street the property is “a .0776 acre corner lot which boasts a sought-after position in the prominent Rainey Street District,” as the Zillow listing notes. The house itself, built in 1945, is a 940 square-foot — just $10,638 per square foot — one-bed, one-bathroom that is surely going to be torn down by whomever comes up with the $10 million. “This is a unique investment opportunity to be sold AS-IS.” Zoning, which allows for building high-rises on the spot, was approved in 2005. The report states the bungalow sits on a 3,375-square-foot lot. The house has been most recently appraised at $353,000.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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