501 Carolyn Ave, Austin, TX 78705

Tucked into one of Central Austins most consistently in-demand pockets, this tastefully renovated 1935 Hyde Park triplex delivers the kind of flexibility and rentability that rarely hits the market. Live in one unit and let the others offset the mortgage, lease all three for a strong long-term hold, or secure a prime asset steps from UT in a neighborhood where vacancy barely has time to exist.nnThe property includes the original brick duplex with two units each featuring 2 bedrooms and 1 bathroom, plus a separate 1 bedroom, 1 bathroom apartment above the detached three-car garage. All three units were renovated in 2022 with updated kitchens, quartz countertops, stainless appliances, refreshed baths, refinished hardwoods, upgraded lighting, fresh paint, and electrical improvements, while the soul of the 1930s still shows up in all the right places: vintage woodwork, built-in buffets, hardwood floors, and charming faux fireplaces.nnCurrent leases generate immediate income with strong rental history and lease terms already in place, making this a true plug-and-play investment in one of Austins most proven rental corridors. The detached garage adds rare utility with three bays, storage, and additional parking flexibility, while the landscaped grounds, shaded patios, and walkable location create serious tenant appeal.nnSet just blocks from the University of Texas, this location puts residents within easy biking and walking distance to Hyde Park favorites, coffee shops, restaurants