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$1,500,000

Last List Price

516 40th ST, Austin, TX 78751

3,960

sqft

0.16

acres

Apartment

About This Home

***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.

Listings checked every few minutes. MLS# 2871159 was Last Updated: 04-04-2025.

Listed by John C Sheppard, Austin Home Source (512) 626-4663

Buyer Represented by Alice Duffy, Keller Williams - Lake Travis (512) 784-2345

Neighborhood

Assigned Schools

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Listing courtesy of Unlock MLS as distributed by MLS Grid. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but is not guaranteed accurate by MLS Grid or Unlock MLS.

What is the Hancock neighborhood like?

Hancock is a historic Central Austin neighborhood located near 41st Street and Red River Street, directly north of the University of Texas campus. One of Austin's oldest residential areas, the neighborhood dates to the late 1800s and early 1900s, with a housing stock that includes Craftsman bungalows, Victorian cottages, early 20th-century four-squares, and mid-century ranch homes — a streetscape that reflects more than a century of Austin's architectural history.

Explore Hancock

What employers are near 516 40th ST?

  • University of Texas at Austin (Higher Education)
  • Seton Medical Center (Healthcare)
  • State of Texas (Government)

How does this property compare to others in Hancock?

516 40th ST is listed at $1.5M vs. the $329K median in Hancock. The neighborhood average is $459/sqft. Homes in Hancock average 89 days on market.

MetricHancock
Median List Price$329K
Median Sold Price$688K
Average Days on Market89
Average Price per Sqft$459
Active Listings27

Market data as of May 2026.

Frequently Asked Questions

How much is 516 40th ST?

516 40th ST is listed for $1,500,000. It features 3,960 square feet, 0.164 acres. Built in 1972.

What neighborhood is 516 40th ST in?

516 40th ST is located in the Hancock neighborhood of Austin, Texas.

How does 516 40th ST compare to other homes in Hancock?

The asking price of $1,500,000 is 355.9% higher than the median home price of $329K in Hancock. At $379/sqft, it compares to the neighborhood average of $459/sqft.

What are the details of 516 40th ST?

516 40th ST was built in 1972, and sits on 0.164 acres of land, and is a apartment style home.