Active Listing  ·  95 days on market

501 West Ave #1604

Austin, TX 78701
$1,625,000
3 Bed 3 Bath 2,009 sqft $809/sqft Built 2018 0.00 acres 2-Car Garage Pool Fifth & West Residences

HOA Fees for 1 year will be paid by seller with an acceptable offer. Property includes Savant home automation, Sonos sound system, Nest thermostat, keyless entry, 2 deeded parking spaces with dedicated EV charging and a private storage locker. Enjoy luxury living at its finest in one of downtown Austin’s premier towers in the heart of the Market District. Experience the energy, convenience, and walkability of urban living with fine dining, live music venues, shopping, Lady Bird Lake and miles of trails outside your door. Be at the center of it all, as the Fall brings college football and special events to Austin. This exceptional 2,009 sq ft, 3 bed/3 bath residence captures breathtaking panoramic views of colorful sunsets, the Westlake Hills, and the sprawling city skyline framed through walls of glass. Open concept living with recently installed hardwood flooring, high ceilings, and floor-to-ceiling windows offers timeless elegance. Designed for entertaining, the expansive living and dining spaces flow seamlessly into a high-end chef-inspired kitchen with Miele appliances, a waterfall island and pantry. Extend the living space to the outdoors on the covered terrace and take in the sweeping landscape. The primary suite serves as a private sanctuary, offering stunning Hill Country sunsets through expansive windows that include blackout shades. The spa-inspired ensuite showcases marble finishes, dual vanity, soaking tub, frameless glass walk-in shower, and a spacious walk-in closet. Two additional bedrooms each with their own full bath, provide privacy and versatility for guests, a home office, or additional living space. Live like you are on vacation with unmatched amenities that include a resort style pool, sundeck, lounge areas, fitness center, yoga studio, 2 guest suites, pet spa & dog park and 24 hour concierge service. This residence offers the ultimate lock & leave lifestyle. Fifth and West Residences delivers on every level. Call to schedule your tour today!

At $809/sqft, this home is priced 106% 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 #1604, Austin, TX 78701

Property Details

Price $1,625,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 2,009 sqft
Lot Size 0.00 acres (43.56 sqft)
Year Built 2018
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Fifth & West Residences
County Travis
Zip Code 78701
$/sqft $809/sqft
Days on Market ,
HOA $1,811/Monthly
Annual Tax Est. $29,096
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT236220448
List Date June 19, 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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · June 19, 2026 $1,685,000
Previous ask $1,668,000
Current ask $1,625,000
Reduced $60,000 (-3.6%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
44 East Ave #4205
44 EAST
$1,625,000 $1,019 3 bd / 3 ba 1,594 sqft , 2026-03-05
1001 Daniel Dr
Arboles Terrace
$1,625,000 $700 4 bd / 3 ba 2,321 sqft , 2026-09-18
210 Lavaca St #1912
Condo
$1,649,999 $1,040 2 bd / 3 ba 1,587 sqft , 2026-03-13
222 West Ave #2802
Seaholm Residences Residential
$1,600,000 $1,120 2 bd / 2 ba 1,428 sqft , 2026-07-24
800 W 5th St #1105
Austin City Lofts Amd
$1,600,000 $714 3 bd / 2 ba 2,241 sqft , 2026-07-28

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
$7,800/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
$325,000
20% conventional investment loan

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

Estimated Gross Rent+$7,800
Principal + Interest−$8,868
Property Tax (~2.1% TX avg)−$2,844
Insurance (~0.5%)−$677
Est. Monthly Cash Flow $-4,589

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 17, 2026.

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