$538,999

Property Overview

This sixth-floor condo at 507 Sabine Street showcases dramatic southwest views of the Austin skyline, with sunsets framed by the iconic Frost tower visible from the residence. Located in the heart of Downtown Austin, this 1,456 square foot, two-bedroom, two-bathroom unit occupies a distinctive converted commercial building on the edge of the 6th Street entertainment district and within walking distance of Lady Bird Lake and Congress Avenue's vibrant urban corridor. The thoughtfully adapted architecture preserves character while offering modern living in one of Austin's most walkable neighborhoods.

Positioned significantly below the downtown area median of $728 per square foot at $370, this property appeals to buyers seeking established urban living at considerable value. The building's full leasing capacity provides immediate rental income potential for investors, with lease eligibility available after a 24-month ownership period. Flexible seller financing options unlock additional purchasing power for well-qualified buyers, featuring rates in the mid-4's to mid-5's range and potential closing cost savings of up to $14,000 with competitive down payment terms.

Vox Residential Insight

The seller financing structure combined with this property's 49% discount to neighborhood comparable sales represents a rare opportunity in Downtown Austin's competitive market. At Vox Residential, we recognize that extended market time often signals room for creative deal structures, and this pricing presents genuine value for both owner-occupants and long-term investors in the high-rise core.

Agent Description

MAXIMIZE YOUR BUYING POWER with exclusive seller financing! Well-qualified buyers can lock in rates from the mid-4’s to mid-5’s, depending on down payment, and save up to $14K in closing costs. Minimum 20% down payment. All buyers must be pre-approved through Preferred Lender to be considered. No formal underwriting, no discount points, close in as little as 14 days. No Short Term Rentals Allowed per HOA. $250.02 of the HOA fee is for 2 parking spots. They can be rented out to other residents. The building is at leasing capacity for immediate leasing by the new owner. The unit can be leased after owning it for 24 months. Sabine on Fifth is a DISTINCTIVE adaptation of a commercial building, originally constructed in 1980 and thoughtfully converted into residences in 2007. This amazing 2BD/2BA condo on the 6th floor of Sabine on 5th offers a prime opportunity to secure a spacious 1,456 sqft residence with spectacular SW views of the sunset setting behind the Frost tower. When you’re not out enjoying the vast array of local eateries, the sizable contemporary kitchen is ready for you to whip up your favorite culinary delights with sleek quartz countertops and SS appliances. The unit boasts one of the building’s largest primary suites, complete with a luxury ensuite bath and plenty of space for a seating or desk area. A luminous second bedroom also provides an ensuite bath accessible from the hallway for guests. Refreshing polished concrete floors throughout add a touch of modern sophistication. This unit provides the added convenience of two reserved garage parking spaces at the adjacent Hilton Garden Inn with covered mezzanine access to the Sabine elevator that takes you to the 6th floor. Residents of Sabine on 5th Street can also join The Hilton’s Skyline Spa & Health Club for a low monthly fee, offering access to the 24-hour fitness center, saltwater pool, hot tub, and saunas. Virtual Tour: https://www.youtube.com/watch?v=eiOCOMqbaB0

Neighborhood: Downtown Austin

This property is located in Downtown Austin, Austin, TX. The area is known for 6th Street Entertainment, Lady Bird Lake, Congress Avenue, High-Rise Living, Walkable Urban Core.

At $370/sqft, this listing is priced 48% below the Downtown Austin median of $713/sqft.

Property Details

Listing data last updated: July 16, 2026

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