This charming, original Waterstreet bungalow affords a multitude of opportunities and uses on a flat lot with potential downtown views. The property is within walking distance to downtown Austin, a host of restaurants, Trader Joe’s, the Saltillo Plaza redevelopment, and the Town Lake Hike and Bike Trail. The property is situated along a major thoroughfare with adjacent residential uses on either side and commercial property across the street. The property is zoned CS-MU-CO-NP. The base-level zoning allows a broad offering of uses including office, professional services, hospitality, and others, and affords building heights of up to 50 feet with 95% impervious cover and 2:1 FAR. The property has rear alley access and sits on a 7,562SF lot that is approximately 46’ x 137’. The original pier and beam home had all new piers installed by the current owner and features antique longleaf pine flooring, shiplap wall details, and high ceilings. The layout features 3 bedrooms and 2 bathrooms or could easily be configured as 5 private offices, a large conference room/greeting area, and a full kitchen with solid wood cabinetry. Any development potential or end-use should be verified by the Buyer with the city and a licensed engineer. Neither Broker nor Seller warrant any development use or building potential. Buyer should independently verify.