2 bed, 2 bath, 1,743 sqft on 0.03 acres in Downtown Austin. Austin, TX 78701. $885,000. Austin ISD.
About This Home
OVERSIZED LAYOUT + A CUSTOM FLOOR PLAN /// Residence 5A1 at Towers of Town Lake offers 1,743 SF per tax record, two bedrooms, a separate office and 2.5 baths for $885,000. Set on the fifth floor of the coveted A tower, this corner residence combines generous living and dining areas with a sunny breakfast nook and a dedicated workspace. /// WINDOWS WRAP THE CORNER /// Floor-to-ceiling glass frames views of Lady Bird Lake and the neighboring park, with city views adding to the corner setting. A long glass-rail balcony offers a place for morning coffee or an evening overlooking the lake and park. /// TWO BEDROOMS + A SEPARATE OFFICE /// Bedrooms on opposite sides offer privacy. Glass French doors open to a library-study with floor-to-ceiling bookshelves, leaving both bedrooms available for residents and guests. Walk-in closets, two full baths, a separate powder room and a dedicated laundry room support everyday living. /// KITCHEN + GATHERING SPACES /// The white kitchen features granite counters and backsplash, a peninsula cooktop and stainless appliances. Connected living and dining areas accommodate gatherings, while the window-lined breakfast nook offers another place to enjoy the view. Polished tile and plantation shutters complete the interiors. /// ESTABLISHED COMMUNITY + EXTENSIVE AMENITIES /// Towers of Town Lake pairs an established lakefront setting with an exterior renovated in recent years. Gated grounds offer indoor and outdoor pools, spa, sauna, fitness center, sport court, billiards, library and concierge service. Two assigned garage parking spaces add everyday convenience. /// PARKSIDE SETTING + DOWNTOWN CONNECTIONS /// Enjoy the neighboring park and Ann and Roy Butler Hike-and-Bike Trail, with East Avenue access connecting the community to coffee, dining and the Rainey Street neighborhood.
Downtown Austin runs from the Colorado River north to the Capitol, bounded by I-35 to the east and Lamar to the west. It is the densest residential market in Central Texas with high-rise condos, historic lofts, and luxury towers concentrated in distinct sub-districts.
The Seaholm District anchors the west end with the Seaholm Residences and the new Google tower reshaping the skyline. Rainey Street sits along the lake's north shore - what was a street of bungalow bars is now flanked by 40-story residential towers including 70 Rainey and The Lakeshore. The Warehouse District between 3rd and 6th Streets draws buyers who want walkable nightlife and restaurant access. Congress Avenue bisects downtown and remains the civic spine connecting the Capitol to the lake.
The Austonian (56 floors), The Independent (58 floors), and 360 Condominiums are the marquee towers. Newer projects like Sixth & Guadalupe and The Republic continue adding inventory. Price points range from $400K studio condos to $5M+ penthouses with lake and Hill Country views.
Walk Score averages 95+. The MetroRail Red Line stops at downtown station. Major employers including the State of Texas, UT Austin, and a growing tech presence (Google, Meta, Apple satellite offices) generate consistent housing demand. Nightlife, dining, live music, and Lady Bird Lake hike-and-bike trail are all within walking distance.
Buyers here are typically professionals, empty nesters downsizing from suburban estates, investors, and out-of-state relocations drawn to Austin's urban core. HOA fees range from $400/month in older buildings to $2,000+ in full-service towers. Most buildings include concierge, pool, fitness center, and secure parking.
School District: Austin ISD
View Downtown Austin neighborhood guide- Property Type
- Residential
- Year Built
- 1983
- Lot Size
- 0.03 acres
- Price / Sq Ft
- $508
- HOA
- $1,368/mo
- Garage
- 2 spaces
Listing information last updated October 17, 2026.
Listed by DEN Property Group
MLS# 5612690 • Active
IDX inquiries: Keenan Group at Compass · (512) 415-7653
Highlights
Facts & Features
Interior
- Bookcases
- Breakfast Bar
- Built-in Features
- Ceiling Fan(s)
- Granite Counters
- Double Vanity
- Eat-in Kitchen
- Open Floorplan
- Pantry
- Primary Bedroom on Main
- Recessed Lighting
- Soaking Tub
- Study
- Home Office
- Walk-In Closet(s)
- Built-In Oven(s)
- Dishwasher
- Electric Cooktop
- Ice Maker
- Microwave
- Refrigerator
- Stainless Steel Appliance(s)
- Tile
- Cooling
- Central Air
Exterior & Lot
- Balcony
- Landscaped
- Views
- Slab
- Covered
- Lot Size
- 0.03 Acres
- Assigned
- Garage
- Garage Spaces
- 2
- Lake Front
- Waterfront
Financial
- HOA Fee
- $1,368 / mo
- Original List Price
- $885,000
- Price per Sq Ft
- $508
Utilities
- Electricity Available
- Water Source
- Public
- Sewer
- Public Sewer
Transaction History
1 record on file
Every recorded listing, sale, and lease at 40 N Interstate 35 Highway Unit #5A1, whoever represented it.
- ActiveListed 2026Current price: $885,000Original list: $885,000MLS 5612690
- Listed · October 16, 2026$885,000
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
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Price & Listing History
Listed with current price, original ask, and market time.
- Current list
- $885,000
- Original list
- $885,000
- Price movement
- No verified reduction
- Listed / DOM
- Oct 16, 2026 · 8 days
Tax Record
Public record data from county appraisal records. Market value can differ from assessed value.
- Assessed Value
- $818,438
- Assessment Year
- 2025
- Year Built
- 1983
- Parcel ID
- 000000188163
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025+16.4% | — | $818,438 | — | — |
2024+1.5% | — | $703,319 | $161,320 | $788,695 |
2023+22.5% | — | $692,619 | $161,320 | $541,999 |
2022-10.1% | — | $565,469 | $161,320 | $531,299 |
2021 | — | $628,980 | $161,320 | $404,149 |
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Zoned Schools
Austin
O Henry
Mathews
Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility.
Excluded from this estimate: property taxes and home insurance. Each requires verified amount, cadence or unit, source, and as-of details.
HOA source: MLS Grid / Unlock MLS, as of 2026-10-17T10:32:10.252+00:00; normalized from monthly dues.
20% ($177K)
Adjustable assumption - not a lending recommendation.
$885,000
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Keenan Market Position
A sourced read on Downtown Austin pricing, timing, and property scale. No automated valuation claim.
List price
$885,000
Price per sqft
$508/sqft
Vs. Neighborhood guide reference price
Not available
Days on market
8 days
Original to current
No verified reduction
$885K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Oct 17, 2026.
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