501 Carolyn Ave, Austin, TX 78705
Local realty services provided by:CENTURY 21 Judge Fite Company
Listed by: mary emma partain
Office: compass re texas, llc.
MLS#:8986241
Source:ACTRIS
501 Carolyn Ave,Austin, TX 78705
$1,595,000
- 5 Beds
- 3 Baths
- 2,880 sq. ft.
- Single family
- Active
Price summary
- Price:$1,595,000
- Price per sq. ft.:$553.82
About this home
Tucked into one of Central Austin’s most consistently in-demand pockets, this tastefully renovated 1935 Hyde Park triplex delivers the kind of flexibility and rentability that rarely hits the market. Live in one unit and let the others offset the mortgage, lease all three for a strong long-term hold, or secure a prime asset steps from UT in a neighborhood where vacancy barely has time to exist.
The property includes the original brick duplex with two units each featuring 2 bedrooms and 1 bathroom, plus a separate 1 bedroom, 1 bathroom apartment above the detached three-car garage. All three units were renovated in 2022 with updated kitchens, quartz countertops, stainless appliances, refreshed baths, refinished hardwoods, upgraded lighting, fresh paint, and electrical improvements, while the soul of the 1930s still shows up in all the right places: vintage woodwork, built-in buffets, hardwood floors, and charming faux fireplaces.
Current leases generate immediate income with strong rental history and lease terms already in place, making this a true plug-and-play investment in one of Austin’s most proven rental corridors. The detached garage adds rare utility with three bays, storage, and additional parking flexibility, while the landscaped grounds, shaded patios, and walkable location create serious tenant appeal.
Set just blocks from the University of Texas, this location puts residents within easy biking and walking distance to Hyde Park favorites, coffee shops, restaurants, transit, and the stadium, with quick access to downtown and major thoroughfares.
For investors, students, professionals, UT faculty, or anyone looking to own a high-demand piece of Central Austin, this one lands in a category all its own. Contact the listing agent to schedule a tour today!...
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Home facts
- Year built:1935
- Listing ID #:8986241
- Updated:May 20, 2026 at 12:46 AM
Rooms and interior
- Bedrooms:5
- Total bathrooms:3
- Full bathrooms:3
- Flooring:Wood
- Kitchen Description:Dishwasher, Disposal, Exhaust Fan, Gas Range, Refrigerator, Stainless Steel Appliance(s)
- Living area:2,880 sq. ft.
Heating and cooling
- Cooling:Central
- Heating:Central
- Central air:Yes
Structure and exterior
- Roof:Composition, Shingle
- Year built:1935
- Building area:2,880 sq. ft.
- Lot area:0.2 Acres
- Lot Features:Back Yard, Corner Lot, Curbs, Front Yard, Landscaped, Level, Public Maintained Road
- Construction Materials:Brick
- Exterior Features:Exterior Steps, Private Yard
- Foundation Description:Pillar/Post/Pier
Schools
- High school:McCallum
- Elementary school:Lee
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,595,000
- Price per sq. ft.:$553.82
- Tax amount:$18,045 (2026)
Features and amenities
- Appliances:Dishwasher, Disposal, Exhaust Fan, Gas Range, Refrigerator, Stainless Steel Appliance(s), Washer/Dryer Stacked, Water Heater
- Laundry features:Washer/Dryer Stacked
- Amenities:Bookcases, Chandelier
Parking
- Total parking spaces:3
- Parking description:Detached, Door-Multi, Driveway, Garage, Garage Faces Side
- Garage:Yes
- Garage spaces:3
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