Multi-Family - Dripping Springs, TX

Prime Investment Opportunity on 4.69 Acres in Dripping Springs! Well-located on Sawyer Ranch Road, this property offers exceptional potential as a residence, an income-generating asset, or possible redevelopment. Currently served by septic and WTCPUA water, improvements include a 3,251 SF primary home built in 1994 with 3 bedrooms, 3.5 baths, and a combination of stone and siding exterior. Additionally, a 1,938 SF guest cottage has 3 bedrooms and 3 baths, providing flexibility for multi-generational living or rental income. Currently, the property generates revenue through 4 rental units—two operating as short-term Airbnb rentals and two leased to long-term tenants, excluding the main residence. With US 290 approximately 1.5 miles to the north, the property boasts convenient access to Austin and the Hill Country. The two large master-planned communities of Belterra and Highpointe sit approximately 2 and 3 miles away respectively, as well as many others within a 5-mile radius. HEB is 4 miles to the east, and the airport is a 25-mile drive. Looking for a fun night out in Austin? Downtown is easily accessible with an approximate 20-mile drive. Strategically located within the Dripping Springs ETJ, the property is not subject to zoning restrictions, presenting a unique redevelopment opportunity. In 2021, previous subdivision deed restrictions were rescinded, leaving the land free of restrictive covenants and open to a variety of potential uses. Whether you're looking for a personal residence with supplemental income, a long-term investment, or a redevelopment opportunity in a high-demand area, this property offers versatility and significant upside potential.

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