501 Carolyn Ave, Austin, TX 78705
- Sqft
- 2,880
- Garage
- Yes
View property features, location on map, relevant school information and overview from seller's agent.
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Overview
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!
Location
Full feature list
Basic info
- Property type
- Multi-family
- Number of stories
- 2
- Square feet
- 2,880
- Lot size (acres)
- 0.20
- Year built
- 1935
Interior features
- Fireplaces
- 2
- Laundry
- Laundry Closet, Washer Hookup, Dryer Hookup, Electric Dryer Hookup, Stacked
Exterior features
- Waterfront
- None
Garage and parking
- Garage parking spaces
- 3
Utilities
- Heating
- Central
- Cooling
- Central Air
- Sewer
- Public Sewer
- Water
- Public Water
Taxes
- Tax Annual Amount (2026)
- $18,045.47
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: Unlock MLS (Austin Board of Realtors) MLS®#: 9984932 Last checked: …

Based on information submitted to the MLS GRID as of . 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.