Active Listing  ·  117 days on market

501 West Ave #2404

Austin, TX 78701
$1,595,000
3 Bed 3 Bath 2,009 sqft $794/sqft Built 2018 0.00 acres 2-Car Garage Pool Fifth & West Residences

Experience elevated downtown living at Fifth & West Residences, a premier luxury high-rise completed in 2019 and designed by acclaimed architect and interior designer Michael Hsu. Perched on the northwest corner of the 24th floor, this exceptional residence showcases sweeping panoramic views through dramatic floor-to-ceiling windows, capturing breathtaking sunsets and the vibrant Austin skyline from nearly every room.

Inside, the expansive open-concept layout blends sophistication with modern comfort. Wide-plank oak flooring, soaring ceilings, quartz surfaces, marble-clad bathrooms, and designer Hansgrohe fixtures create a refined yet welcoming atmosphere. The chef’s kitchen is outfitted with top-of-the-line Miele appliances, sleek cabinetry, and a built-in wine refrigerator, making it equally suited for entertaining or everyday living.

The private primary suite offers a peaceful retreat with a spa-inspired ensuite bath and an impressive custom walk-in closet, while two spacious secondary bedrooms provide flexibility for guests, office space, or additional living needs. Smart home technology is seamlessly integrated throughout, including Savant home automation, motorized shades, keyless entry, WiFi-enabled thermostats, and built-in wiring for sound and data.

This residence also includes two reserved parking spaces with a dedicated electric vehicle charging station.

Fifth & West delivers an unmatched lifestyle with luxury amenities including concierge service, a resort-style pool with panoramic city views, fitness center, owner’s lounge, conference space, outdoor grilling areas, and a private dog park.

Located in the heart of Downtown Austin, you are moments from Trader Joe’s, Seaholm District, the Austin Central Library, Lady Bird Lake and its hike-and-bike trail, Republic Square, Sand Beach Park, Violet Crown Cinema, Ballet Austin, plus some of the city’s best dining, shopping, nightlife, and live music venues.

At $794/sqft, this home is priced 103% 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 #2404, Austin, TX 78701

Property Details

Price $1,595,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 2,009 sqft
Lot Size 0.00 acres (126.32 sqft)
Year Built 2018
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Fifth & West Residences
County Travis
Zip Code 78701
$/sqft $794/sqft
Days on Market ,
HOA $1,811.17/Monthly
Annual Tax Est. $29,832
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231541978
List Date May 28, 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 · May 28, 2026 $1,699,900
Current ask $1,595,000
Reduced $104,900 (-6.2%) 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
900 S 2nd St #30
Bouldin Court Condos
$1,590,000 $601 3 bd / 3 ba 2,644 sqft , 2026-07-11
44 East Ave #4305
44 East Ave
$1,590,000 $997 3 bd / 3 ba 1,594 sqft , 2026-07-10
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
44 East Ave #4205
44 EAST
$1,625,000 $1,019 3 bd / 3 ba 1,594 sqft , 2026-03-05

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
$7,656/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
$319,000
20% conventional investment loan

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

Estimated Gross Rent+$7,656
Principal + Interest−$8,705
Property Tax (~2.1% TX avg)−$2,791
Insurance (~0.5%)−$665
Est. Monthly Cash Flow $-4,505

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 →