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504 E 38 1/2 ST # 506
Austin, TX, 78751
$1,075,000
Beds
0 Baths
1,645 SqFt
0.25 Acres
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Rare Three-Unit Opportunity on a Large Lot in Hancock.
Located just steps from the historic Hancock Golf Course and some of Austin’s most beloved local spots, this unique property presents a rare opportunity to own three individual 1 bed / 1 bath homes on a generous 10,890 sq ft lot in one of Central Austin’s most walkable neighborhoods.

Perfect for investors, multi-generational living, or an owner-occupant seeking additional rental income, each unit offers its own charm, privacy, and complete living spaces—including full kitchens and bathrooms. The back cottage, rebuilt in 2014, is a quiet, modern retreat featuring granite countertops, solid bamboo floors, vaulted ceilings, and abundant natural light. It also includes central HVAC, a tankless gas water heater, in-unit laundry, and a private fenced yard.

The two front cottages retain their original hardwood floors and vintage character, enhanced with thoughtful updates like European-style washer/dryer combos for added convenience.

Additional highlights include alley access, a 2-car carport, and multiple off-street parking options. Located just half a block from Hancock Golf Course, jogging trails, and iconic neighborhood favorites like Asti, Vino Vino, and Hyde Park Bar & Grill, with easy access to UT and downtown.

Three standalone units. One large lot. Endless potential. This is a true Austin gem in the heart of Hancock.

Property Details

Price:
$1,075,000
MLS #:
9242525
Status:
Active
Beds:
0
Baths:
0
Address:
504 E 38 1/2 ST # 506
Type:
Multi Family
Subtype:
Triplex
Subdivision:
Oaklawn Addn
City:
Austin
Listed Date:
Apr 17, 2025
State:
TX
Finished Sq Ft:
1,645
ZIP:
78751
Lot Size:
10,907 sqft / 0.25 acres (approx)
Year Built:
1935
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Schools

School District:
Austin ISD
Elementary School:
Lee
Middle School:
Kealing
High School:
McCallum

Interior

Appliances
Dishwasher, Disposal, Dryer, Oven, Range, R N G H D, Refrigerator, Washer
Cooling
Central Air
Flooring
Tile, Wood
Heating
Central

Exterior

Community Features
None
Exterior Features
Private Yard
Other Structures
None
Parking Features
Carport, Off Street
Roof
Composition, Metal

Financial

Taxes
$15,873

Map

Community

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504 E 38 1/2 ST # 506
Austin, TX