Active Listing  ·  46 days on market

501 West Ave #1604

Austin, TX 78701
$1,685,000
3 Bed 3 Bath 2,009 sqft $839/sqft Built 2018 0.00 acres 2-Car Garage Pool Fifth & West Residences

Luxury living at its finest in one of downtown Austin’s premier towers in the heart of the Market District. This exceptional 2,009 sq ft, 3 bed/3 bath residence captures breathtaking panoramic views of colorful sunsets, the Westlake Hills, UT west campus, and the sprawling city skyline framed through walls of glass. A private foyer welcomes you into an open-concept design where hardwood flooring, soaring ceilings, and floor-to-ceiling windows create an atmosphere of timeless elegance. Designed for both everyday living and unforgettable entertaining, the expansive living and dining spaces flow seamlessly into a high-end chef-inspired kitchen featuring quartz countertops, an oversized waterfall island, premium Miele appliances, Italkraft cabinetry, and a generous walk-in 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. You will feel pampered in the spa-inspired ensuite boasting marble finishes, dual vanity, soaking tub, frameless glass walk-in shower, and spacious walk-in closet. Two additional bedrooms each with their own full bath, provide flexibility, privacy, and versatility for guests, a home office, or additional living space. Thoughtfully appointed with Savant home automation, Sonos sound system, Nest thermostat, keyless entry, 2 deeded parking spaces with dedicated EV charging and a private storage locker, this residence offers the ultimate lock & leave lifestyle. 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. Experience the energy, convenience, and walkability of urban living with fine dining, live music venues, shopping, Lady Bird Lake and miles of trails right outside your door. Fifth and West Residences delivers on every level. Schedule your tour today!

At $839/sqft, this home is priced 115% above the Austin active market average of $391/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 $1,685,000
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 $839/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.

Schedule a Call →

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
70 Rainey St #2201
70 Rainey Condominiums
$1,695,000 $999 2 bd / 2 ba 1,697 sqft , 2026-04-21
210 Lavaca St #1912
Condo
$1,674,999 $1,055 2 bd / 3 ba 1,587 sqft , 2026-03-13
506 Powell Cir
South Park Sec 01
$1,699,000 $699 3 bd / 4 ba 2,432 sqft , 2025-11-13
3305 Skylark Dr
Allandale Park Sec 04
$1,699,000 $627 4 bd / 3 ba 2,708 sqft , 2026-05-01
501 West Ave #2404
Fifth & West Residences
$1,699,900 $846 3 bd / 3 ba 2,009 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
$8,088/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
$337,000
20% conventional investment loan

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

Estimated Gross Rent+$8,088
Principal + Interest−$9,196
Property Tax (~2.1% TX avg)−$2,949
Insurance (~0.5%)−$702
Est. Monthly Cash Flow $-4,759

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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