#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024This property has sold on March 25, 2025. Looking for something similar? Contact us or browse available homes.
516 E 40th ST
Austin, TX, 78751
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$1,500,000
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***Call for Offers! Recent price adjustment to $1.5m!!!*** Rare investment opportunity in the heart of Austin's sought-after Hyde Park neighborhood! Located just a "chip shot" away from the 8th green at Hancock Golf Course, Texas' oldest golf course, this 10-unit apartment complex offers prime real estate in one of the city's most historic and desirable areas. With its close proximity to St. David's Hospital, the University of Texas Law School, and DKR Memorial Stadium, the property boasts exceptional rental potential and the convenience of being in a vibrant, growing community. Hyde Park's charm is evident in its tree-lined streets, eclectic atmosphere, and access to local restaurants, shops, and cultural attractions. The complex consists of 10 well-maintained units 2 storage rooms, and a washer/dryer that provide additional income, providing the perfect opportunity for investors looking to capitalize on Austin’s dynamic rental market. Whether you're looking to expand your portfolio or seek long-term growth in a neighborhood with a rich history and prime location, this property is an ideal choice. Don't miss out on this exceptional investment opportunity in one of Austin’s most coveted locations. Check out attachments for additional info.
Property Type
Commercial Sale
Year Built
1972
Lot Size
0.16 acres
Garage
10 spaces
Listed by Austin Home Source
Property Details
Flooring
Construction
Foundation
Parking
Verified property facts
516 E 40th ST is listed at $1,500,000 with 0 bedrooms, 0.16-acre lot. This places it above the 78751 median of $720,000.
516 E 40th ST is a Commercial Sale built in 1972 featuring 0 bedrooms, 0.16-acre lot.
516 E 40th ST 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.
With 20% down ($300,000) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 516 E 40th ST is around $10,533 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
At $1,500,000, 516 E 40th ST is in the Oaklawn Add market where there are currently 51 active listings in 78751. The Keenan Group has completed 8 transactions in 78751 as part of 1,000+ career sales totaling $1B+ across Austin.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
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+17.6% | — | $1,584,000 | $391,985 | $1,192,015 |
2024+4.6% | — | $1,346,400 | $391,985 | $1,073,215 |
2023+9.4% | — | $1,287,000 | $391,985 | $954,415 |
2022-1.0% | — | $1,176,553 | $391,985 | $895,015 |
2021 | — | $1,188,000 | $391,985 | $784,568 |
District context schools are shown because address-level assigned school fields are not available for this property. Contact the school district directly to verify current boundaries and enrollment eligibility. Ratings from GreatSchools.org.
20% ($300K)
$1,500,000
Luxury property intelligence
A sourced read on Oaklawn Add pricing, timing, and property scale. No automated valuation claim.
List price
$1,500,000
Price per sqft
Not available
Vs. Oaklawn Add median
Not available
Days on market
625 days
Original to current
$700K reduction
$2.2M original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Mar 25, 2026.
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District guide, nearby schools, and homes by attendance area
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Pricing, prep, launch timing, and Compass marketing strategy
#1 ABOR Team 2024 with $1B+ career sales volume
516 E 40th ST was built in 1972 (54 years ago). Buyers should budget for potential updates to major systems.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
5 events on record
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025+17.6% | — | $1,584,000 | $391,985 | $1,192,015 |
2024+4.6% | — | $1,346,400 | $391,985 | $1,073,215 |
2023+9.4% | — | $1,287,000 | $391,985 | $954,415 |
2022-1.0% | — | $1,176,553 | $391,985 | $895,015 |
2021 | — | $1,188,000 | $391,985 | $784,568 |
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
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