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#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024Loading
Positioned at the corner of 5th Street and West Avenue, this one bedroom, one bathroom residence places you in the center of downtown Austin living. Just one block from Whole Foods Market and minutes from Lady Bird Lake, Trader Joe’s, and the vibrant Market and Warehouse Districts, the location delivers immediate access to dining, nightlife, and culture.
Located within Fifth & West Residences, a boutique luxury building with just 154 residences, the community offers a more private, elevated living experience. Residents enjoy hotel caliber amenities including a 24 hour concierge, fitness and yoga studio, resort style pool with grilling area, guest suites, dog park with washing station, secure bike storage, and beautifully designed lounge and conference spaces.
Inside, the residence features sleek modern finishes and a clean, open layout. Floor to ceiling windows bring in abundant natural light and showcase downtown Austin views, while blackout shades offer comfort and privacy when desired. The space allows for flexible living, whether you are working from home or entertaining.
One reserved parking space is included, with an additional storage unit available and negotiable.
Refined downtown living, lock and leave ease, and a location that truly delivers. Schedule your private showing today.
Property Type
Residential Lease
Year Built
2018
Lot Size
0.00 acres
$/Sq Ft
$4
Garage
1 spaces
Pool
Yes
Listed by Compass RE Texas, LLC
Verified property facts
501 West Ave Unit #1206 is listed at $2,650 with 1 bedrooms, 1 full bathrooms, 652 square feet, 0.00-acre lot.
501 West Ave Unit #1206 is zoned for Austin ISD with assigned schools: Mathews (elementary), O Henry (middle), Austin (high). School assignments should be verified directly with the district.
501 West Ave Unit #1206 is in Downtown Austin, Austin, Texas. See the full [Downtown Austin neighborhood guide](/neighborhoods/downtown-austin) for market data, schools, and lifestyle details.
501 West Ave Unit #1206 is a Residential Lease built in 2018 featuring 1 bedrooms, 1 full bathrooms, 652 square feet, 0.00-acre lot.
501 West Ave Unit #1206 is presented by the Keenan Group at Compass Real Estate, the #1 Austin Board of Realtors Team (2024) with 1,000+ career transactions and $1B+ in career volume across Austin's luxury market.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Waterfront
Listing timeline with current price, original ask, and market time.
Public record data from county appraisal records. Market value can differ from assessed value.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-26.1% | — | $1,720,522 | — | — |
2024-10.0% | — | $2,329,007 | $35,101 | $1,962,023 |
2023+50.2% | — | $2,587,750 | $35,101 | $2,293,906 |
2022-11.6% | — | $1,723,200 | $35,101 | $2,552,649 |
2021 | — | $1,950,000 | $35,099 | $1,688,101 |
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. Ratings from GreatSchools.org.
20% ($530)
$2,650
Luxury property intelligence
A sourced read on Downtown Austin pricing, timing, and property scale. No automated valuation claim.
List price
$2,650
Price per sqft
$4/sqft
Vs. Downtown Austin median
-99.7%
$875K median
Days on market
35 days
Original to current
$100 reduction
$2.8K original
Active inventory context
Ask for current inventory
Price Position in Downtown Austin
Listed 100% below the Downtown Austin median
Source: MLS Grid / Unlock MLS and Keenan Group review as of May 31, 2026.
Request Private Market AnalysisLifestyle, schools, market context, and homes in Downtown Austin
Active listings and buyer search context in Downtown Austin
ZIP-level neighborhoods, schools, lifestyle, and Austin market context
District guide, nearby schools, and homes by attendance area
Private Austin CMA, TCAD context, and pricing strategy
Pricing, prep, launch timing, and Compass marketing strategy
#1 ABOR Team 2024 with $1B+ career sales volume
501 West Ave Unit #1206 is priced at $4 per square foot across 652 sqft. The Downtown Austin median list price is $875,000.
With 20% down ($530) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 501 West Ave Unit #1206 is around $19 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
At $2,650, 501 West Ave Unit #1206 is in the Downtown Austin market where there are currently 222 active listings in 78701. The Keenan Group has completed 10 transactions in 78701 as part of 1,000+ career sales totaling $1B+ across Austin. For a detailed market analysis, see our [Downtown Austin guide](/neighborhoods/downtown-austin).
501 West Ave Unit #1206 was built in 2018, making it 8 years old with relatively recent construction.
501 West Ave Unit #1206 includes verified waterfront access: None. Buyers should confirm shoreline, dock rights, and floodplain status during due diligence.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
Downtown Austin is one of Austin's established neighborhoods, zoned for Austin ISD in the 78701 area. The Keenan Group has specialized in Downtown Austin real estate for 25+ years with 1,000+ career transactions. Contact (512) 415-7653 for current market conditions and available homes.
Source: Keenan Group at Compass Real Estate, #1 Austin Board of Realtors Team (2024)
Walker's Paradise
Good Transit
Biker's Paradise
Walk Score measures walkability based on distance to amenities. Transit Score measures public transportation access. Bike Score measures bikeability based on bike infrastructure and terrain.
7 events on record
Current Price
$520,000
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-26.1% | — | $1,720,522 | — | — |
2024-10.0% | — | $2,329,007 | $35,101 | $1,962,023 |
2023+50.2% | — | $2,587,750 | $35,101 | $2,293,906 |
2022-11.6% | — | $1,723,200 | $35,101 | $2,552,649 |
2021 | — | $1,950,000 | $35,099 | $1,688,101 |
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
Best Match
Balanced against price, location, and layout so nearby lookalikes rise first. Similar properties in Fifth & West
Neighborhood guide and local insights
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.
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