Active Listing  ·  7 days on market

501 West Ave #1504

Austin, TX 78701
$1,215,000
2 Bed 2 Bath 1,327 sqft $916/sqft Built 2018 2-Car Garage Pool 5th and West

This 39story luxury high rise is positioned on the coveted corner at Fifth & West, offering a sophisticated interpretation of downtown Austin living—combining premium interiors, sweeping views, exceptional building amenities and an extraordinary location between Whole Foods Market and Trader Joe’s. Floor-to-ceiling glass wraps this corner residence in natural light while showcasing expansive downtown and sunset Hill Country views. The unit is beautifully appointed with wide-plank wood flooring, European cabinetry, premium Miele appliances, custom lighting and motorized window shades. Enhanced-acoustic luxury windows provide an additional layer of comfort and tranquility—an especially valuable feature in an urban residence. The primary suite is complemented by a custom closet, marble vanities and high quality fixtures. Two premium parking spaces and separate storage convey with the residence. An impressive collection of amenities spans the first, fifth and sixth floors and extends the experience of home well beyond the residence, as well as an elegant arrival experience and 24-hour concierge setting the tone. Residents enjoy an exceptional fitness center and multiple recreational and gathering spaces, along with a spectacular pool surrounded by both covered and open-air terraces. For dog owners, one of the building’s most distinctive conveniences is its private onsite dog walking and bathing area. Whether it is pouring rain, exceptionally hot or simply inconvenient to leave the building, four-legged residents can be accommodated without venturing out into the weather. This property delivers the rare combination of sophistication, privacy, convenience and ease. Whether envisioned as a simplified primary residence, an Austin pied-à-terre or a premium lock-and-leave home for the frequent traveler, it offers a lifestyle of elegance without compromise and one of Austin's most compelling addresses.

At $916/sqft, this home is priced 134% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

501 West Ave #1504, Austin, TX 78701

Property Details

Price $1,215,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,327 sqft
Lot Size ,
Year Built 2018
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision 5th and West
County Travis
Zip Code 78701
$/sqft $916/sqft
Days on Market ,
HOA $1,191.14/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246819368
List Date September 15, 2026
Elementary School Mathews
Middle School O Henry
High School Austin
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
907 E 3rd St
Harrington
$1,200,000 $744 3 bd / 3 ba 1,612 sqft , 2026-09-03
610 Davis St #2205
Modern Austin
$1,199,999 $1,065 2 bd / 2 ba 1,127 sqft , 2026-09-03
301 West Ave #1204
Independent Condos
$1,199,000 $813 2 bd / 2 ba 1,474 sqft , 2026-06-24
210 Lavaca St #1902
Condo
$1,195,000 $1,022 2 bd / 2 ba 1,169 sqft , 2026-09-15
610 Davis St #2408
Modern Austin
$1,235,000 $1,052 2 bd / 2 ba 1,174 sqft , 2026-08-18

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$5,832/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$243,000
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$5,832
Principal + Interest−$6,631
Property Tax (~2.1% TX avg)−$2,126
Insurance (~0.5%)−$506
Est. Monthly Cash Flow $-3,431

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Austin, TX

Austin sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on September 19, 2026.

📞 (254) 718-2567 [email protected] More about Luke →