$539,000

Property Overview

This professionally renovated two-bedroom condo at 40 Interstate 35 offers exceptional value in the heart of Austin's vibrant Rainey Street District, priced significantly below the neighborhood median at just $352 per square foot. The 1,533-square-foot open floor plan maximizes natural light and entertaining space, with two full baths and a generous balcony perfectly positioned for Lady Bird Lake views and spectacular downtown sunsets. The unit captures the essence of Rainey Street living—steps from historic bungalow bars, live music venues, and direct access to the Colorado River Trail for water sports and bat watching.

The building's amenities rival luxury high-rises at a fraction of the cost, featuring an indoor/outdoor pool with hot tub, 24-hour security and concierge services, a fully equipped fitness center with sauna and steam shower, and recreational spaces including a basketball/racquetball court and pool room. Located at the intersection of downtown culture and easy highway access, residents enjoy immediate proximity to Austin's best restaurants, museums, and festivals. The gated community provides two access points with front desk check-in and guest parking, creating a secure, well-managed environment that appeals to both urban professionals and those seeking downtown convenience without downtown price tags.

Agent Description

Beautiful downtown lake-view property, open floor plan, bright and spacious. Professionally renovated two-bedroom condo with two full baths. The generously sized unit is great for entertaining, skyline viewing and enjoying access to downtown culture and night life. Centrally located with easy access to all major highways. Spectacular sunsets right from the balcony, trail access, water sports, bat viewing and immediate access to downtown restaurants, museums, nightlife, festivals, music, entertainment and activities. Rich in amenities such as indoor/outdoor pool with hot tub, 24 hr. security and concierge, weight room, exercise room, dry sauna, steam shower, half basketball/racquetball court, pool/ping-pong room, library space, piano room, meeting room, laundry service pickup, guest parking and lovely spacious grounds. Enter through East or West access gate, call button available to call the front desk, you must sign in at front desk with license plate number. May satisfy requirements for a 1031 Exchange as currently there is a lease in place. Currently leased through April 17, 2027. Must owner occupy, at the end of current lease.

Neighborhood: Rainey Street District

This property is located in Rainey Street District, Austin, TX. The area is known for Historic Bungalow Bars, Lady Bird Lake Access, Luxury High-Rises, Skyline Views, Vibrant Nightlife.

At $352/sqft, this listing is priced 58% below the Rainey Street District median of $830/sqft.

Property Details

Listing data last updated: May 19, 2026

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