Active Listing  ·  146 days on market

501 West Ave #1604

Austin, TX 78701
$1,585,000
3 Bed 3 Bath 2,009 sqft $789/sqft Built 2018 0.00 acres 2-Car Garage Pool Fifth & West Residences

EXCEPTIONAL VALUE in Downtown Austin. RARE DOWNTOWN FEATURES THAT SET THIS RESIDENCE APART: 2 deeded parking spaces, dedicated EV charging station, private storage locker, Savant home automation, Sonos sound system, Nest thermostat, keyless entry & automatic water shut-off valve. Experience elevated high-rise living in Austin’s vibrant Market District. This stunning 2,009 sq ft residence offers 3 bedrooms, 3 full bathrooms, and breathtaking north & west-facing panoramic views. Floor-to-ceiling windows showcase spectacular Hill Country sunsets, while hardwood floors, soaring ceilings, and an open-concept layout create a sophisticated, light-filled retreat. Designed for comfortable living and effortless entertaining, this residence delivers downtown luxury. The chef-inspired kitchen features premium Miele appliances, a waterfall island, and pantry, flowing seamlessly into spacious living and dining areas. Step onto the covered terrace to enjoy expansive views and unforgettable sunsets. The primary suite is a sanctuary with blackout shades and a spa-inspired bath with floor-to-ceiling marble, dual vanities, soaking tub, glass-enclosed shower, and walk-in closet. 2 additional bedrooms, each with its own full bathroom, offer flexibility for guests, family, or a home office. Fifth & West offers exceptional amenities with a resort-style pool, inviting lounges, fitness center, yoga studio, pet spa, dog relief area, 2 rentable guest suites, and 24-hour concierge. Enjoy the best of Austin just steps from your door. Walk to Lady Bird Lake trails, restaurants, live music venues, upscale shopping, Whole Foods, ACL Live, and Austin Central Library. Convenient access to UT, Longhorn football, and signature Austin events. Whether you're seeking a full-time luxury residence, lock-and-leave urban retreat, or downtown second home, this exceptional property offers the views, amenities, convenience and walkability that make Fifth & West so desirable. Schedule your private showing today!

At $789/sqft, this home is priced 102% 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 #1604, Austin, TX 78701

Property Details

Price $1,585,000
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 $789/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 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.

Schedule a Call →

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 $1,625,000
Current ask $1,585,000
▼ Reduced $100,000 (-5.9%) 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 #4305
44 East Ave
$1,590,000 $997 3 bd / 3 ba 1,594 sqft , 2026-07-10
501 West Ave #2404
Fifth & West Residences
$1,595,000 $794 3 bd / 3 ba 2,009 sqft , 2026-05-28
210 Lavaca St #3110
W Austin Hotel and Residences
$1,595,000 $1,121 2 bd / 3 ba 1,423 sqft , 2026-10-05
800 W 5th St #1105
Austin City Lofts Amd
$1,600,000 $714 3 bd / 2 ba 2,241 sqft , 2026-07-28
210 Lavaca St #1912
Condo
$1,637,500 $1,032 2 bd / 3 ba 1,587 sqft , 2026-11-07

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
$7,608/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
$317,000
20% conventional investment loan

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

Estimated Gross Rent+$7,608
Principal + Interest−$8,650
Property Tax (assumed ~2.1%)−$2,774
Insurance (assumed ~0.5%)−$660
Est. Monthly Cash Flow $-4,476

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →
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 3, 2026.

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

Save this home