Homes for sale - 1125 Magnolia ST, Lockhart, TX 78644

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$1,400,000

Est. payment - /mo

5,749 SqFt

Active Under Contract

1125 Magnolia ST Lockhart, TX 78644

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Ryan Smith

HOMESTEAD AND RANCH REAL ESTATE

ryan@homesteadandranch.com +1(512) 466-1460

UPDATED:

06/24/2024 10:50 PM

Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 5,749 sqft

Price per Sqft $243

Subdivision Mrs M M Blanks

MLS Listing ID 1982565

Originating Board actris

Year Built 1932

Tax Year 2023

Lot Size 2.066 Acres

Property Description

Bed & Breakfast zoning,Welcome to The Adams Estate, a magnificent 1932 Tudor Revival style home steeped in the rich history of Lockhart,Texas.Designed for the esteemed oil man, rancher, and developer Fred J. Adams by architect Philip Lloyd Shoop, this grand 5,749 soft. residence is nestled on a spacious 2-acre lot,a tranquil retreat just a stroll away from the vibrant town square.The Adams Estate boasts an array of elegant features that honor its historical significance while providing modern functionality.It comprises 5 generously sized bedrooms and five full baths,each reflecting the timeless charm and meticulous craftsmanship of its era.Original oak wood flooring,parquet,and exquisite Italian mosaics run throughout,leading you through archways and past solid wood doors adorned with nautical scenes and the Adams family crest – a fish.The heart of the home lies in its three wood-burning fireplaces located in the library,living room,and a spectacular basement, formerly Fred Adams' speakeasy.This unique space has beautiful yellow Italian tile, adding a touch of vintage glamour perfect for entertaining, basement does need finish out.Perhaps most enticing is the property's SUP-20-11 zoning approval for operation as a Bed & Breakfast.This,coupled with its historical designation potential offering significant tax credits,makes The Adams Estate an attractive investment or family home.The home needs a new kitchen, the master bath needs tile,and two showers were shower pans have been replaced.Owner has $25k worth of hardware for baths from Ferguson Plumbing. Owner will consider selling the adjacent property which are two operating airbnbs on .33 acres which could be purchased at an additional price. City of Lockhart will permit a well which could irrigate grounds and pool. This property would not be suited for large events but for more eloquent small gatherings similar to a boutique hotel, weddings, anniversary, and exclusive parties. Hollywood Regency Ambiance at its best!

Location

State TX

County Caldwell

Zoning SUP-20-11 Zoning approval for operation as a Bed & Breakfast.

Interior

Heating Central, Fireplace(s), Natural Gas

Cooling Ceiling Fan(s), Central Air

Flooring Parquet, Tile, Wood, See Remarks

Fireplace N

Exterior

Utilities Available Electricity Available, Natural Gas Available, Phone Available, Sewer Available

View None

Accessibility Hand Rails

Total Parking Spaces 10

Building

Foundation Pillar/Post/Pier

Sewer Public Sewer

Water Public

Structure Type Masonry – All Sides,Plaster,Stone,Stucco

New Construction No

Others

Restrictions City Restrictions,See Remarks

Acceptable Financing Cash, Conventional, Owner May Carry

Tax Rate 1.9903

Listing Terms Cash, Conventional, Owner May Carry

Special Listing Condition Standard

Listed by Kuper Sotheby's Int'l Realty • Kay Gourley

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