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