1317 Newning Ave is a rare opportunity in the heart of Travis Heights (78704) Just steps from South Congress (SoCo) and minutes to Downtown Austin. This 0.269-acre (11,718 sqft) corner lot offers exceptional flexibility with three existing dwelling units, making it ideal for multi-generational living, short-term rental (STR) potential, long-term income production, or redevelopment. The property includes a classic Craftsman-style main home (1317 Newning, 3 bed / 1 bath, ~1,137 sqft), a second residence (1315 Newning, 2 bed / 1 bath, ~832 sqft), and a separate studio unit, all thoughtfully updated in 2022. Each structure offers charm and functionality, creating immediate rental income potential or the ability to live in one unit while leasing the others. This property also presents a compelling redevelopment or new construction opportunity, with the potential to build a 4,000+ sqft luxury home in one of Austin's most desirable neighborhoods, where new construction homes command premium values. Enjoy unbeatable walkability and location benefits, including easy access to South Congress Avenue's restaurants, coffee shops, boutiques, and nightlife, while still being tucked away from the main traffic corridors. Stacy Park and Pool are just a short walk away, and Downtown Austin, Lady Bird Lake, and major employers are only minutes from your doorstep. Whether you're an investor seeking a cash-flowing property in 78704, a buyer looking for a multi-generational setup, or someone wanting to build new in Travis Heights, 1317 Newning offers location, versatility, and long-term upside rarely found in today's market. Schedule your private showing to explore the full potential of this one-of-a-kind property.