Incredible opportunity in the heart of East Austin - steps from the urban core yet nestled in one of the city's most sought-after neighborhoods. With 8,252 square feet of flat, buildable land (zoned SF-3 with alley access), 1005 Holly offers prime development potential for a builder, investor, or future-minded developer looking to plant a flag in this high-growth corridor. Whether you envision a high-end single residence or a multi-unit condo regime with both Holly Street and alley access, this property offers flexibility and a high ceiling for returns. The existing home could be lightly remodeled for immediate rental income, or cleared for new construction. Adjacent lots may become available, creating a rare opportunity to assemble multiple parcels with continuous street and alley frontage - ideal for a larger-scale development or future up-zoning play. Just blocks from the Rainey Street District, Lady Bird Lake, and East Austin's best coffee shops, breweries, and art-forward experiences. And with the I-35 expansion on the horizon, this location is poised to become even more connected to downtown Austin and its surrounding tech and lifestyle hubs. Buyers are advised to verify zoning and building regulations prior to acquisition.