2523 Durwood St

For Sale

2523 Durwood St, Austin, TX 78704

This Austin property for sale is located at 2523 Durwood St. The general use of 2523 Durwood St is multi-family and it incorporates 41,038 square feet of class C multi-family space. Contact the listing broker for details on the current sale price for 2523 Durwood St. 2523 Durwood St is situated on a lot that is 1.15 acre in size.

Contacts

broker
Johnny Devora

Devora Realty

Property Details

  • Property Type Multi-Family
  • Property Size 41,038 SF
  • Units 61
  • Lot Size 1.15 Acre
  • Rental Income / YR $824,841.00
  • NOI / YR $468,214.00
  • Taxes / YR $224,370.00
  • Zoning MF-3
  • # of Floors 2
  • Average Floor Size 420 SF
  • Property Tenancy Multi-Tenant
  • Building Class C
  • Year Built 1974
  • Date Updated Jan 23, 2025

Devora Realty is pleased to present Element Studios, a 61-unit, fully-converted condo property in the heart of Austin’s coveted 78704. All 61 units are 420-square-foot studios, optimized for efficient, modern living in one of Austin’s most walkable and desirable areas. The community is gated, with pedestrian gates for easy access, and features amenities designed to enhance resident satisfaction and retention, including a community pool, outdoor spaces, and two laundry rooms.
This is a strategic opportunity for experienced investors seeking to capitalize on a property that not only functions as a multifamily asset but also offers the flexibility of legally defined condos, creating adaptable exit strategies in an evolving market.


As multifamily sales across Austin have slowed in recent years due to oversupply and negative rent growth, Element Studios has maintained a competitive edge. Its strong performance stems from a strategic focus on smaller, more affordable units within a high-demand location. Unlike many large-scale multifamily developments, these compact units offer an entry-level price point that makes them attractive to both renters and individual buyers, positioning the asset as a valuable, flexible holding in a challenging market.
With walkable access to Austin’s iconic hotspots – South Congress Avenue, South First Street, and major green spaces like Zilker Park – Element Studios is well-positioned to capture tenants who prioritize location but seek affordability. The new H-E-B at Oltorf and South Congress only amplifies this property’s appeal, adding a major retail anchor within walking distance. The property’s smaller unit sizes also align well with the growing trend toward micro-units and minimalist living, creating appeal for young professionals, downsizers, and those prioritizing lifestyle over square footage.

For investors, Element Studios represents an opportunity to enter or expand within one of Austin’s most iconic zip codes at a time when affordability and flexibility are in high demand. With legal condo status, investors have options: continue leasing for steady cash flow or selectively sell individual units as the market shifts. This adaptability, combined with the 78704’s enduring appeal, makes Element Studios a sound, forward-thinking investment in Austin’s competitive real estate market.

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Highlights

  • Walk Score: Very Walkable (81)
  • Bike Score: Very Bikeable (72)
  • Unit Amenities Air Conditioning / Balcony / Kitchen / Refrigerator / Oven / Range
  • Site Amenities: 24 Hour Access Controlled Access / Courtyard / Fenced Lot / Laundry / Picnic Area / Pool / Grill / Bicycle Storage / Sundeck

Attachments

Getting around

  • 81/100

    Walk Score ®

  • 49/100

    Transit Score ®

  • 72/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Austin, TX
  • Neighborhood Dawson
  • Zip Code 78704
  • Market Austin

Points of Interest

  • Zilker Eagle

    1.90 miles

  • Downtown

    2.18 miles

  • MLK Jr.

    4.11 miles

  • Highland

    6.72 miles

  • Crestview

    7.28 miles

  • Texaco

    0.21 miles

  • Exxon

    0.32 miles

  • 7-Eleven

    0.53 miles

  • Valero

    0.61 miles

  • COA TWIN OAKS #1

    0.73 miles

  • South Congress Hotel Tesla Supercharger

    0.81 miles

  • Mobil

    0.84 miles

  • ST. ED'S GARAGE STATION1

    0.92 miles

  • Kimber Modern Tesla Destination

    1.00 miles

  • Hotel San Jose Tesla Destination

    1.00 miles

  • County Office Parking Garage

    0.40 miles

  • South Congress Transit Center Park & Ride Lot

    1.21 miles

  • Visitor Parking

    1.31 miles

  • Patient Parking

    1.40 miles

  • CTM Parking

    1.40 miles

  • HACA Employee Parking

    1.44 miles

  • HACA Parking

    1.46 miles

  • Doug Sahm Hill Parking

    1.72 miles

  • Retail parking only

    1.77 miles

  • Pfluger Bridge Parking

    1.77 miles

  • Colton House Hotel

    0.22 miles

  • Village Motor Inn

    0.45 miles

  • Bel Air Motel

    0.67 miles

  • South Congress Hotel

    0.80 miles

  • Kimber Modern Hotel

    1.01 miles

  • Austin Motel

    1.05 miles

  • Best Western Austin City

    1.08 miles

  • Hotel Saint Cecilia

    1.17 miles

  • Parkwest Inn

    1.17 miles

  • Motel 6 Austin Airport South

    1.18 miles

  • H-E-B

    0.28 miles

  • First Food Mart

    0.84 miles

  • Walmart Supercenter

    1.25 miles

  • Asahi Imports

    1.47 miles

  • 1st Stop Food Store

    1.48 miles

  • Thom's Market

    1.58 miles

  • Barton Hills Market

    1.87 miles

  • Wheatsville Co-op

    1.92 miles

  • Tinnin Food Mart

    1.93 miles

  • Target

    1.99 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Johnny Devora

Devora Realty

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