502 Grace Lane, Austin

$2,350,000

8 Beds
6 Baths
5,062 Sqft
3¾ Acres
2 Garages

Livable 2600 sq ft home, 2 bed 1 bath duplex and 500 sq ft guest house. MAGICAL PROPERTY WITH BREATHTAKING CANYON VIEWS NO ZONING RESTRICTIONS. LEGAL TRACT EXEMPT FROM REQUIREMENT TO PLAT The property has several tiers, leading from a hilltop down to an amazing long-flowing creek, and is surrounded by an abundant number of trees, as the land surrounding the structures has never been developed. This is a prospective buyer's or developer's dream lot, depending on the path the new owner decides to take. The property is just under a four-acre wooded tract in Rob Roy West, situated near Bee Cave Road, which could be cleared and constructed into a vast single-family estate, serving as the first option. Secondly, it has the potential to be transformed into a condo or apartment development. Thirdly, it could be utilized as an income-generating property, as it already has a large rock house, two two-bedroom in duplex 1600 sq ft , and a one-bedroom cottage/guest house that is available for immediate occupancy. The property deed has no restrictions, as it has been grandfathered since the 1970s. The property is located in the Eanes Independent School District and the City of Austin ETJ. Additionally, there are multiple Austin Electric meters on the property, a 950-foot deep well that supplies water, and two MUD districts located in close proximity. Three structures total of 5062 sq ft. Please contact me for Survey.

Essential Information
MLS® #6317516
Price$2,350,000
Bedrooms8
Bathrooms6.00
Full Baths5
Half Baths1
Square Footage5,062
Acres3.75
Year Built1974
TypeResidential
Sub-TypeSingle Family Residence
StatusActive
Community Information
Address502 Grace Lane
Area8W
SubdivisionRob Roy West
CityAustin
CountyTravis
StateTX
Zip Code78746
Amenities
FeaturesNone
Garage Spaces2
WaterfrontCreek
Utilities

Electricity Available, Propane, Water Available, Above Ground Utilities

Parking

Additional Parking, Garage, Carport, Circular Driveway, Garage Faces Side

View

Park/Greenbelt, Creek/Stream, Trees/Woods, Canyon

Interior
InteriorSee Remarks
AppliancesSee Remarks
HeatingCentral
FireplaceYes
# of Fireplaces1
FireplacesGreat Room
# of Stories2
StoriesTwo
Exterior
RoofShingle
ConstructionBrick, HardiPlank Type
FoundationSlab
Exterior Features

Balcony, Private Yard, See Remarks

Lot Description

Back Yard, Backs to Greenbelt/Park, Gentle Sloping

School Information
DistrictEanes ISD
ElementaryValley View
MiddleWest Ridge
HighWestlake
Additional Information
Date ListedFebruary 7th, 2024
Days on Market81
Listing Details
Office Contact(512) 368-8078
LISTING MAP

Get directions to this property:

Properties for Sale Similar to 502 Grace Lane, Austin, TX

Photo of Listing #6031153
New Listing

2009 Yaupon Valley Road, West Lake Hills

$2,275,000 - 4 Beds, 3 Baths, 3,558 Sf

MLS® # 6031153

Kuper Sotheby's Int'l Realty
Photo of Listing #4684896
New Listing

1700 Jackson Hole Cove, Austin

$1,999,900 - 5 Beds, 4 Baths, 2,982 Sf

MLS® # 4684896

Live512 LLC
Photo of Listing #2769864
New Listing

312 Eanes School Road, Austin

$1,800,000 - 3 Beds, 3 Baths, 2,416 Sf

MLS® # 2769864

Allure Real Estate

Property Listed by: @ properties Christie's International

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from April 28th, 2024 at 6:30pm CDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

All information provided is deemed reliable but is not guaranteed and should be independently verified.