Rare Central Austin opportunity overlooking Shoal Creek! Nestled on an almost half acre lot along Shoal Creek with Heritage oaks. Fantastic investment opportunity with a lease currently in place, with the option of a 90-day notice termination. Hold onto the home until you are ready to build with tenants in place on a new year lease or build you dream home now! This prime Shoal Creek location provides excellent privacy for your dream backyard oasis, where you could build a pool overlooking the creek with lush greenery all around you. Two beautiful heritage trees highlight the courtyard, adding a sense of serenity and peace that's hard to come by in today's world. It's also extremely rare to find such a large parcel of land with this much privacy and natural beauty so close to the action of the city. Walkable to the Grove and the Domain, which has everything from coffee shops to restaurants and entertainment venues; or just a few minutes drive or bike ride to Downtown Austin, Lake Bird Lake, Central Market and the medical district, allowing you easy access to everything else that makes Austin great! This property is zoned for desirable schools as well, so you can rest easy knowing excellent education is close by. The home on the property needs renovation or a tear down to make way for your new custom built home. There is existing new home design by architect Celeste Aguirre and Jared Gossett of Gossett & Co., the 2022 custom home builder of the year. Home plans will convey with purchase of this property. Rendering photos toward the end of the photo stream. The design still has opportunity to be whatever the future owner can dream of with expandable square footage. The lot footprint offers no concerns with impervious coverage. If you're looking for something special—something unique—this might be the perfect spot for your custom dream home!