Active Listing  ·  123 days on market

501 West Ave #3803

Austin, TX 78701
$3,999,999
3 Bed 4 Bath 2,822 sqft $1,417/sqft Built 2018 3-Car Garage Pool Fifth & West

Experience unparalleled luxury in this northeast-facing 38th floor penthouse at the prestigious Fifth & West Residence Tower in downtown Austin. This elegant 3-bedroom, 3.5-bath residence boasts floor-to-ceiling windows with breathtaking views of Lady Bird Lake, the Capitol, and the hill country. Watch the sunrise over the lake from the comfort of your living room. The exquisite kitchen, featuring Miele appliances and marble countertops, flows seamlessly into spacious living areas, perfect for entertaining. The owner's suite offers a private balcony, spa-like bath, dual closets, and a dressing area. The junior penthouse features double pane windows, cork ceilings, and a built in sound system to create a serene and peaceful space. With three reserved parking spaces and access to exclusive amenities, this home exemplifies modern sophistication.

At $1,417/sqft, this home is priced 262% 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 #3803, Austin, TX 78701

Property Details

Price $3,999,999
Status Active Listing
Beds 3
Full Baths 3
Half Baths 1
Living Area 2,822 sqft
Lot Size ,
Year Built 2018
Garage 3 spaces
Stories ,
Type Residential · Condominium
Subdivision Fifth & West
County Travis
Zip Code 78701
$/sqft $1,417/sqft
Days on Market ,
HOA $2,516/Monthly
Annual Tax Est. $51,149.15
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT224912399
List Date April 3, 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
1700 Buffalo Gap Rd
N/A
$3,999,000 $1,270 3 bd / 4 ba 3,150 sqft , 2026-03-19
1810 Rockcliff Rd
Windy Cove
$3,995,000 $1,806 4 bd / 3 ba 2,212 sqft , 2026-05-18
3214 Smoky Rdg
Oak Shores On Lake Austin Sec
$3,950,000 $1,646 4 bd / 2 ba 2,400 sqft , 2025-09-26
2108 Matthews Dr
Laurel Heights
$3,899,000 $1,285 4 bd / 4 ba 3,034 sqft , 2026-08-02
303 Lago Verde Rd
Rio Vista Add
$4,195,000 $1,729 3 bd / 2 ba 2,426 sqft , 2026-06-10

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
$19,200/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
$800,000
20% conventional investment loan

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

Estimated Gross Rent+$19,200
Principal + Interest−$21,830
Property Tax (~2.1% TX avg)−$7,000
Insurance (~0.5%)−$1,667
Est. Monthly Cash Flow $-11,297

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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