321 W Olive St, Lockhart, TX 78644
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Overview
Exceptional investment and development opportunity in the heart of Lockhart! Just minutes from the city’s historic downtown, this collection of four contiguous lots offers rare versatility and scale for small-format builders or investors. Zoned Residential Medium Density (RMD), each ~6,000 sq ft lot allows single-family or duplex construction by right, with potential for townhomes or condos through the city’s Specific Use Permit process. This flexibility means you can build up to eight dwelling units by right or more with city approval — a perfect setup for build-to-rent portfolios, duplex resale projects, or multifamily infill development.
All city utilities are available, and the property is free from any HOA restrictions, allowing complete design flexibility. The lots feature level terrain, multiple street frontages, and a prime corner location within walking distance to Lockhart’s historic downtown. Enjoy easy access to Hwy 183 and SH-130, both just a few blocks away, providing quick connections to Austin, San Marcos, and Bastrop. Just 30 minutes to Austin-Bergstrom Airport, 25 minutes to Tesla, and 35 minutes to Downtown Austin.
Lockhart’s growth has accelerated, attracting major employers like Sensei Farms, Hill Country Foodworks, The Ziegenfelder Co., and RealCold, as well as a wave of new homebuilders, hotels, and restaurants. The city of 17,000 is among the fastest-growing in Central Texas, with over 8,800 homes planned or under construction. Famous for its legendary BBQ scene — from Kreuz Market and Smitty’s to Barbs B Q and Terry Black’s — Lockhart now blends small-town charm with big-market momentum.
Whether you’re looking to develop income-producing duplexes, hold for appreciation, or create a boutique townhome community, these RMD-zoned lots deliver powerful upside in one of Central Texas’s most promising emerging markets.
Location
Full feature list
Basic info
- Property type
- Land
- Lot size (acres)
- 0.14
Exterior features
- Waterfront
- None
Utilities
- Sewer
- Public Sewer
- Water
- Public Water
Taxes
- Tax Annual Amount (2025)
- $1,586.60
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: Unlock MLS (Austin Board of Realtors) MLS®#: 1688956 Last checked: …

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.