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501 Carolyn Ave

austin, TX 78705

$1,595,000

  • 5 BR
    3 BA
    approx. 2,880 SF

Interested? Let's Connect

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!

Details

2,880 Sq Ft

0.1991 Private Acres Lot Size

single family home

$1,504 Monthly Tax

Built in 1935

MLS/Listing ID 8986241

2 Stories

Amenities & Features

Electric Dryer Hookup

Dryer Hookup

Lot - Medium Trees

Lot - Level

Lot - Landscaped

Lot - Front Yard

Lot - Corner Lot

Lot - Backyard

Parking - Garage Faces Side

Parking - Garage

Parking - Driveway

Parking - Door Multi

Parking - Detached

Patio

Neighborhood View

Composition

Shingle

Public Sewer

Public Water

Construction - Brick

Cooling - Central Air

Private Yard

Lighting

Exterior Steps

Wood

Partial

Fenced

Living Room Fireplace

Natural Wood

Pillar Post Pier

Quartz Countertops

No Interior Steps

Main Level Primary

Chandelier

Built-in Features

Bookcases

Washer Hookup

Stacked

Laundry Closet

Washer/Dryer Stacked

Stainless Steel Appliances

Refrigerator

Gas Water Heater

Gas Range

Exhaust Fan

Disposal

Dishwasher

Community - Sidewalks

Community - Curbs

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TOTAL MONTHLY COST

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  • PRINCIPAL & INTEREST

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  • PROPERTY TAXES

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