$799,999
Beds: 3
Baths: 2
Sqft: 1,557
Sqft lot: 392
Acre lot: 0.01
75 Days On Market

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Property listed by Compass RE Texas, LLC 512-575-3644 (512) 669-3897

Status: Active
Property Type: Condominium
Year Built: 2005
Neighborhood: Milago Condo Amd
Days On Website: 75

Property Details for 54 Rainey Street #502, Austin, TX 78701

Perched on the fifth floor of The Milago, this exceptional 3-bed, 2-bath home offers breathtaking west-facing views of the Downtown Austin skyline and Lady Bird Lake. Inside, an open-concept floor plan is filled with natural light streaming through expansive windows that perfectly frame the panoramic views. Rich wood flooring extends throughout the living areas and all three bedrooms, while modern finishes and clean architectural lines create a contemporary feel. The kitchen is thoughtfully designed with granite countertops, stainless steel appliances, ample cabinetry, and a breakfast bar for casual dining, while a dedicated dining area provides the perfect setting for larger gatherings and dinner parties. Just beyond the living room, a private balcony invites you to enjoy morning coffee or evening cocktails overlooking the Austin skyline and Lady Bird Lake. The spacious primary suite serves as a peaceful retreat, featuring a spa-inspired ensuite bath with a soaking tub, walk-in shower, and a custom walk-in closet. Two additional bedrooms offer flexibility for guests, a home office, or additional living space. Residents of Milago enjoy an exceptional collection of amenities, including 24-hour concierge service, secure garage parking, a rooftop pool deck with panoramic views, a fitness center, club room, private event terrace, and dedicated on-site storage. With direct access to the Lady Bird Lake Trail and countless restaurants, coffee shops, and entertainment options just beyond your door on Rainey Street, this residence offers the very best of Austin city living.

Appliances & Equipment

  • Dishwasher
  • ElectricRange
  • Microwave
  • StainlessSteelAppliances

Bathrooms

  • 2 total bathrooms
  • 2 full bathrooms

Bedrooms

  • 3 total bedrooms
  • 3 main level bedrooms

Building

  • Built in 2005
  • Living area: 1557.0
  • Building faces West
  • Levels: One
  • Construction Materials: Masonry, Stucco

Community

  • BarLounge
  • BicycleStorage
  • Concierge
  • ConferenceMeetingRoom
  • FitnessCenter
  • Pool
  • StorageFacilities
  • TrailsPaths

Disclosures

  • SellerDisclosure

Accessibility Features

  • None

Exterior Features

  • Balcony

Fence

  • None

Floors

  • Tile
  • Wood

Foundation

  • Slab

Garage

  • 2 spaces

Heating

  • Central

Home Owner's Association

  • Association Fee: $1,290.29
  • Fee Frequency: Monthly
  • Fee Includes: CommonAreaMaintenance, Trash
  • Amenities: Concierge

Interior Features

  • BreakfastBar
  • CeilingFans
  • GraniteCounters
  • MainLevelPrimary
  • OpenFloorplan
  • RecessedLighting
  • SoakingTub
  • WalkInClosets

Laundry

  • LaundryCloset

Listing

  • Listing ID: 4776980
  • Standard Status: Active
  • MLS Status: Active
  • Property Subtype: Condominium
  • On market as of 2026-08-12
  • 73 days on market
  • Special Conditions: Standard

Location

  • Subdivision: Milago Condo Amd
  • MLS Area (Major): DT
  • County/Parish: Travis

Lot

  • 0.009 acres
  • None

Parking

  • 2 covered spaces
  • Assigned
  • Garage
  • Secured

Pool

  • None
  • Community

Possession

  • ClosingAndFunding
  • CloseOfEscrow

Property

  • Resale
  • City
  • Downtown
  • River
  • Skyline

Roof

  • Membrane

Schools

  • Elementary School: Mathews
  • Elementary School District: Austin ISD
  • Middle School: O Henry
  • Middle School District: Austin ISD
  • High School: Austin
  • High School District: Austin ISD

Sewer

  • PublicSewer

Taxes

  • Parcel Number: 02030312500000
  • Annual Amount: $15,008.6
  • Assessed Value: $902,313
  • Legal Description: UNT 502 MILAGO CONDOMINIUMS AMENDED PLUS .591 % INT IN COM AREA
  • Lot: 502
  • Year: 2026

Utilities

  • ElectricityAvailable
  • SewerAvailable
  • WaterAvailable
  • Water Source: Public

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$799,999 - 54 Rainey Street #502, Austin, TX 78701

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54 Rainey Street #502
Austin, TX 78701
Subdivision: Milago Condo Amd