1020 Spence ST # B, Austin TX 78702

Here’s your shot to create something meaningful in one of Austin’s most electric, walkable, and deeply rooted neighborhoods. Set within a 2-lot condo regime in East Austin, this property offers a rare mix of flexibility, views, and history. The existing bungalow on site is full of character and presence, paired with a lot that opens the door to multiple future paths. Whether you’re thinking thoughtful redevelopment, long-term hold, or a layered compound that blends old Austin with what’s next, this one already has a story worth continuing. This home was purchased from the estate of Ernest Rangel Perez, a Tejano legend whose influence on Austin’s music scene still resonates today. This property has always been tied to Austin’s creative pulse, and it still carries that energy in a way you can feel when you stand on the lot and take in the commanding skyline views. Downtown Austin stretches out in front of you, including the Waterline tower, the tallest building in Texas. Architect plans are already in place to preserve the original bungalow while incorporating it into a striking new build designed to capture those views from nearly every angle. The condo regime allows for additional structures, and with recent zoning changes, there’s real flexibility to explore multiple configurations, each with the potential for rooftop city views. Location is everything here, and this one delivers in every direction. Rainey Street is minutes to the west, East 6th and Cesar Chavez sit just north, the Holly District lies to the east, and Lady Bird Lake and Festival Beach are right to the south. With nearby bus routes, quick I-35 access, and the future I-35 cap and stitch project, this pocket is only getting more connected over time. This property is Austin’s culture, past, present, and future, on the same block. It’s a place where music history, neighborhood energy, and the city’s next chapter meet. Cool neighborhood. Real history. Big views. Endless ways to imagine what comes next.