Location. Privacy. Space. Beauty. Access. Versatility. Multi-Generational or income producing and zoned for even more expansion: this iconic Allandale estate has it all, and more. This property features two separate meticulously maintained & upgraded homes, with zoning for a third structure. The Main Residence is a 3 bed/2 bath, 2596 SF home featuring a Great room with panoramic windows and sliding doors opening to the park-like backyard, 2 gas fireplaces, hardwood floors, low-E windows, a newer roof & a flexible in-law layout ideal for guests or growing households. The second House is a 1 bed/1 bath, 836 SF home featuring International Modern-style design with vaulted ceilings, large windows, a full kitchen, a spacious living area, walk-in closet, gym, and heated/cooled laundry + storage, & a private entrance and patio. Consistent rental income with repeat guests. Perfect for multi-generational living, guest quarters, or long-term investment. All of this is located on an expansive .86-acre estate lot featuring tree-shaded grounds, a screened-in porch overlooking Shoal Creek, a large enclosed garden with raised beds, two storage sheds & a carport workshop with ample storage space, a detached outbuilding for lawn tools, sports gear, or creative use, a circular driveway, extra parking pad, drive-through carport, an irrigation system, alarm system, landscape lighting, & broadband-ready. Located in a Cyclist-Friendly Location with direct access to Shoal Creek Trail, where safe, dedicated bike paths provide a secure & scenic ride through Austin's greenbelt. Allandale is one of the City's best neighborhoods for biking and commuting. Minutes to Burnet Road corridor, The Grove, Central Market, Seton and Austin Heart hospitals, and UT. 15 minutes to downtown Austin and Bergstrom International Airport. Zoned to Highland Park Elementary, a National Blue Ribbon school, Lamar MS & McCallum Fine Arts Academy.