1028 Ellingson Ln Discover a unique opportunity in a well-established Austin neighborhood, where a vintage 1948 home awaits its next chapter on a generous corner lot spanning nearly a quarter acre. This property offers an exceptional blend of classic charm and modern potential, perfectly positioned for both investors and owner-occupants. The residence boasts 2, 240 square feet of living space (house and guest house), providing ample room for comfortable living and creative customization. Enjoy the convenience of being just blocks away from the UT Shuttle/CapMetro, Hancock Center, and a diverse array of local restaurants, making city access effortless. The property uniquely features a 1-bedroom, 1-bathroom detached guest house, currently providing rental income and offering flexible living arrangements or additional income streams. Inside the main home, a large workshop presents a versatile space, ideal for conversion into a dedicated home office, an entertaining game room, an additional bedroom, or a cozy den to suit your lifestyle needs. Outside, three mature pecan trees grace the landscape, offering abundant shade on sunny days and delicious seasonal treats. This prime location and versatile property combine to create an enticing urban sanctuary, providing a rare chance to own a piece of Austin's vibrant history with significant upside.