Skip To Content

501 Carolyn Ave

Austin, TX 78705
  • $1,595,000
  • STATUS: Active
  • ID#: 8986241
UPDATED: 11 min ago
$1,595,000
  • 5
    BEDS
  • 0.2
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 2,880
    SQFT
  • $554
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1935
County:
Area:

School Information

Elementary School:
Lee
Middle School:
High School:
School District:
Property listed by Mary Emma Partain of Compass RE Texas, LLC: (512) 788-0533, (512) 788-0533.

Description

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!

Monthly Payment Calculator



© 2026 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2026-06-07T13:00:01.7.

MLS Grid  logoBased on information submitted to the MLS GRID as of 2026-06-07T13:00:01.7 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Click here for MLS GRID DMCA Notice
www.austintexasresidence.com/homes/176669008
Print Image

501 Carolyn Ave Austin, TX 78705

  • Price: $1,595,000
  • Status: Active
  • On Site: Days
  • Updated: 11 min ago
  • ID#: 8986241
5
Beds
3
Baths
0
½ Baths
0.2
Acres
2,880
SQFT
$554
$/SQFT
1935
Built
Neighborhood:
Harpers
County:
Travis
Area:
Austin
Elementary School:
Lee
Middle School:
Kealing
High School:
Mccallum
School District:
Austin ISD
Property Description
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!
Exterior Features

Attached Garage YN No Covered Spaces 3 Direction Faces NE Exterior Features See RemarksExterior StepsLightingPrivate Yard Fencing FencedPartialWood Foundation Details Pillar/Post/Pier Garage YN Yes Levels Two Lot Features Back YardCorner LotCurbsFront YardLandscapedLevelPublic Maintained RoadTrees-Medium (20 Ft - 40 Ft) Other Structures None Parking Features DetachedDoor-MultiDrivewayGarageGarage Faces Side Patio And Porch Features Patio Roof CompositionShingle View Neighborhood Waterfront Features None Waterfront YN No

Interior Features

Appliances DishwasherDisposalExhaust FanGas RangeRefrigeratorStainless Steel Appliance(s)Washer/Dryer StackedGas Water Heater Cooling Central Air Fireplace Features See RemarksLiving Room Fireplaces Total 2 Flooring Wood Heating Central Interior Features BookcasesBuilt-in FeaturesChandelierQuartz CountersElectric Dryer HookupNo Interior StepsPrimary Bedroom on MainStackable W/D ConnectionsWasher Hookup Laundry Location Laundry Closet Main Level Bedrooms 2 Num Dining 3 Num Living 3 Num Other Level Beds 3 Rooms Bedroom (Upper Level ChandelierSee Remarks) Living Room (Upper Level BookcasesChandelierSee Remarks) Kitchen (Main Level Quartz CountersSee Remarks) Bedroom (Upper Level ChandelierSee Remarks) Kitchen (Upper Level Quartz CountersCRWNSee Remarks) Dining Room (Upper Level ChandelierCRWNSee Remarks) Bedroom (Main Level ChandelierSee Remarks) Bathroom (Upper Level Full BathSee Remarks) Kitchen (Upper Level Quartz CountersSee Remarks) Bedroom (Upper Level ChandelierCRW Window Features See Remarks

Property Features

Accessibility Features None Additional Parcels YN No Association YN No Community Features CurbsSidewalks Estimated Taxes 18045 Fema Flood Plain No Horse YN No Listing Terms CashConventional New Construction YN No Pool Features None Pool Private YN No Property Condition Resale Property Sub Type Single Family Residence Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 18045.47 Unit Style See Remarks1st Floor Entry2nd Floor Entry Utilities Cable AvailableElectricity ConnectedInternet-CableNatural Gas AvailableSewer AvailableWater Available Water Source Public



© 2026 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2026-06-07T13:00:01.7.

MLS Grid  logoBased on information submitted to the MLS GRID as of 2026-06-07T13:00:01.7 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Click here for MLS GRID DMCA Notice
 
https://bt-photos.global.ssl.fastly.net/austin/1280_boomver_1_8986241-2.jpg https://bt-photos.global.ssl.fastly.net/austin/1280_boomver_1_8986241-2.jpg https://bt-photos.global.ssl.fastly.net/austin/1280_boomver_1_8986241-2.jpg
Logo
Watters International
3307 Northland Dr, Ste 100
Austin TX, 78731
Property listed by Mary Emma Partain of Compass RE Texas, LLC: (512) 788-0533, (512) 788-0533.