Active Listing  ·  7 days on market

501 West Ave #1601

Austin, TX 78701
$2,200,000
3 Bed 3 Bath 2,517 sqft $874/sqft Built 2018 0.00 acres 2-Car Garage Pool Fifth & West

This rarely-available C1 floor plan, spanning 2,517 square feet, is the premier floor plan at prestigious Fifth & West. The 3-BR, 3-bath (plus study) home has floor-to-ceiling windows which frame panoramic southeastern views of the Austin skyline. Spacious open kitchen with custom Italkraft cabinets, quartz countertops, a massive center island, Miele appliances, and an enclosed walk-in pantry. Two terraces offer sunrise views. Motorized shades and smart lighting make for an easily-controlled ambience. The windows on the southeast side of the building are triple-paned; a highly desirable feature for downtown living. The owner's suite has a private study leading into a BR with large walk-in closet, en suite marble bathroom with frameless glass shower, soaking tub, private water closet, and a wide double vanity. Large laundry room with a sink & side-by-side washer and dryer, rare for high-rise living. On the opposite wing, two secondary bedrooms--one with a private terrace--offer en-suite baths and large walk-in closets. The views from this unit look across the capitol view corridor, with a panorama of some of Austin's most iconic buildings. Large walk-in storage unit and two convenient parking spaces--each wired for electric vehicle charging (and one that has a Tesla charger already installed). Built in 2018, Fifth & West is a distinctive triangular tower with Michael Hsu-designed amenity spaces. From 24-hour concierge to magnificent pool and sun deck, state-of-the-art fitness center & yoga studio, catering kitchen & dining room, resident lounges & conference room, guest suites, and an indoor/outdoor pet area, Fifth & West has it all. Footsteps away from fantastic shopping, dining & nightlife venues, Austin Central Library, BookPeople, REI, Whole Foods, and Trader Joe's. The Pfluger Pedestrian Bridge, Lady Bird Lake Trail, and Shoal Creek Trail take you to Zilker Park, Pease Park and beyond--a dream location for a walker, hiker, or cyclist.

At $874/sqft, this home is priced 124% above the Austin active market average of $390/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

501 West Ave #1601, Austin, TX 78701

Property Details

Price $2,200,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 2,517 sqft
Lot Size 0.00 acres (156.82 sqft)
Year Built 2018
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Fifth & West
County Travis
Zip Code 78701
$/sqft $874/sqft
Days on Market ,
HOA $2,258.57/Monthly
Annual Tax Est. $19,198.48
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251744468
List Date November 5, 2026
Elementary School Mathews
Middle School O Henry
High School Austin
School District Austin ISD

Austin ISD

Mathews · O Henry · Austin

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
606 Josephine St
Bluff View
$2,250,000 $906 4 bd / 3 ba 2,483 sqft , 2026-10-08
222 West Ave #2301
Seaholm Residences Residential
$2,295,000 $1,031 3 bd / 3 ba 2,227 sqft , 2026-05-15
1300 Bluff St
Bluff View
$2,299,000 $848 3 bd / 3 ba 2,710 sqft , 2026-06-18
222 West Ave #2201
Seaholm Residences Residential
$2,395,000 $1,075 3 bd / 3 ba 2,227 sqft , 2025-11-13
610 Davis St #4301
The Modern Austin Residences
$2,425,500 $1,243 3 bd / 3 ba 1,951 sqft , 2026-05-28

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
$10,560/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
$440,000
20% conventional investment loan

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

Estimated Gross Rent+$10,560
Principal + Interest−$12,006
Property Tax (assumed ~2.1%)−$3,850
Insurance (assumed ~0.5%)−$917
Est. Monthly Cash Flow $-6,213

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 · 41 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. The written content was last updated on November 7, 2026.

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

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