Rare opportunity to create a true compound in the heart of Chestnut! This premium lot offers the chance to build a new home of up to approximately 2,000 sq ft alongside the beautifully remodeled residence next door-an exceptional setup for multi-generational living, extended family, guests, or simply having additional space in one of East Austin's most desirable neighborhoods. The proposed design allows for approximately 2,050 sq ft of FAR, 1,210 sq ft of building coverage, and 1,716 sq ft of impervious coverage, offering a thoughtful footprint with plenty of flexibility for a custom home, private outdoor space, and pool. Pair the new construction with the existing remodel opportunity of unit #1 (currently not on mls) and create a rare Cherrywood compound with tremendous versatility and long-term value. Ideally located just minutes from the vibrant Manor Road district, UT, downtown Austin, and some of East Austin's favorite restaurants, coffee shops, and local amenities, this is an opportunity to build in a neighborhood where location is difficult to replicate. Whether you envision a private family compound, primary residence with a separate guest home, or a strategic investment, this property offers possibilities that are increasingly hard to find. Buyer to independently verify all building, zoning, development, utility, and impervious coverage requirements with the City of Austin. Ask the agent for additional information regarding the proposed building plans and the opportunity to purchase the adjacent remodel opportunity .