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Courtesy of Compass RE Texas, LLC, Mary Emma Partain Listing Contact: (512) 788-0533 
Mary Emma Partain

501 Carolyn Ave

$1,595,000 501 Carolyn Ave, Austin, TX 78705
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!
  • For Sale
    Status
  • 5
    Bedrooms
  • 3
    Bathrooms
  • 1935
    Year Built
  • 2,880 Sq.Ft.
    Living Area

Features & Amenities

Area & Lot

  • Status: For Sale
  • Living Space: 2,880 Sq.Ft.
  • Lot Size: 8,672.8 Sq.Ft.
  • MLS® ID: 8986241
  • Type: Residential
  • Year Built: 1935
  • Water Frontage: None
  • View Description: Neighborhood
  • Elementary School:Lee
  • Middle School: Kealing
  • High School: McCallum
  • School District: Austin ISD

Interior

  • Total Bedrooms: 5
  • Total Bathrooms: 3
  • Full Bathrooms: 3
  • Flooring: Wood
  • Fireplace: See Remarks, Living Room
  • Appliances: Dishwasher, Disposal, Exhaust Fan, Gas Range, Refrigerator, Stainless Steel Appliance(s), Washer/Dryer Stacked, Gas Water Heater
  • Other Interior Features: Bookcases, Built-in Features, Chandelier, Quartz Counters, Electric Dryer Hookup, No Interior Steps, Primary Bedroom on Main, Stackable W/D Connections, Washer Hookup

Exterior & Building

  • Stories: 2
  • Garage Space: 3.0
  • Water Source: Public
  • Utilities: Cable Available, Electricity Connected, Internet-Cable, Natural Gas Available, Sewer Available, Water Available
  • Pool: None
  • Roof: Composition, Shingle
  • Lot Features: Back Yard, Corner Lot, Curbs, Front Yard, Landscaped, Level, Public Maintained Road, Trees-Medium (20 Ft - 40 Ft)
  • Parking: Detached, Door-Multi, Driveway, Garage, Garage Faces Side
  • Heat Type: Central
  • Air Conditioning: Central Air
  • Sewer: Public Sewer
  • Substructure: Pillar/Post/Pier
  • Disability Features: None
  • Other Exterior Features: See Remarks, Exterior Steps, Lighting, Private Yard

Financial

  • Sales Price: $1,595,000
  • Real Estate Tax: $18,045/yr
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Thank you for your interest in 501 Carolyn Ave, Austin, TX 78705. We are reviewing your request and will be in touch shortly!

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501 Carolyn Ave

Work With Mary Emma

With a background as both an attorney and designer, and a passion for homes, Mary Emma is a uniquely qualified Realtor®.
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