$369,000
2 bd · 2 ba · 1,288 sqft
40 N Interstate 35 #3B3, Austin, TX 78701
40 N Interstate 35 #3B3, Austin, TX 78701 is a 2-bedroom, 2-bathroom condominium listed at $369,000 ($286/sqft). 1,288 sqft. Built in 1983. Located in Rainey Street District, Austin TX. Priced 64% below the Rainey Street District median of $785/sqft. MLS #1469576. Listed by DENNY HOLT REALTORS.
Property Overview
This south-facing condo at 40 Interstate 35 captures the essence of Rainey Street District living with direct access to Lady Bird Lake's recreational trails and skyline views across Austin, TX. Positioned on the third floor of B Building, the unit benefits from the complex's prime location—close enough to the district's legendary bungalow bars and vibrant nightlife, yet far enough removed for peaceful living. The 1,288 square foot layout features two bedrooms and two bathrooms, providing comfortable space for professionals and small families seeking urban convenience.
Residents enjoy an extensive amenities package that transforms the property into a lifestyle hub: dual pools (indoor and outdoor), dedicated cardio and weight rooms, a library for quiet moments, billiard room for entertainment, and a racquet court for active residents. The walkable setting puts Lady Bird Lake's hike and bike trails within steps, offering daily access to Austin's beloved outdoor spaces and natural scenery. At $286 per square foot, this property offers exceptional value compared to the Rainey Street area median of $821 per square foot.
Vox Real Estate Insight
This unit represents remarkable value for buyers seeking Rainey Street's energy and Lady Bird Lake proximity without premium high-rise pricing—a genuine opportunity in one of Austin's most sought-after neighborhoods. We're seeing strong interest in these community-focused residential buildings as buyers recognize the balanced lifestyle they offer compared to newer luxury towers along the corridor.
Agent Description
South facing unit, third floor in "B" Building which is the second in from Rainey Street (third building away from IH35). Amenities include one indoor/one outdoor pool, a cardio exercise room, weight room, library, meeting rooms, billiard room, racketball court. Walk through gate and cross street to Lady Bird Lake hike & bike trails
Neighborhood: Rainey Street District
This property is located in Rainey Street District, Austin, TX. The area is known for Historic Bungalow Bars, Lady Bird Lake Access, Luxury High-Rises, Skyline Views, Vibrant Nightlife.
At $286/sqft, this listing is priced 64% below the Rainey Street District median of $785/sqft.
Property Details
| Property Type | Condominium |
| Year Built | 1983 |
| Bedrooms | 2 |
| Bathrooms | 2 |
| Living Area | 1,288 sqft |
| Lot Size | 1,011 sqft |
| Price / Sqft | $286 |
| Stories | One |
| Condition | Resale |
| Unit Style | High Rise (8-13 Stories) |
| Subdivision | Towers Town Lake Condo Amd |
| County | Travis |
| MLS Area | DT |
| Listed | Mar 3, 2026 |
| MLS # | 1469576 |
| Listed By | DENNY HOLT REALTORS |
Interior
| Flooring | Tile |
| Appliances | Dishwasher, Disposal, Free-Standing Electric Oven, Free-Standing Refrigerator, Stainless Steel Appliance(s), Washer/Dryer, Electric Water Heater |
| Interior Features | Bar, Ceiling Fan(s), Double Vanity, Elevator |
| Windows | Insulated Windows, Tinted Windows, Window Coverings |
| Laundry | Laundry Closet, Main Level |
| Main-Level Bedrooms | 2 |
Systems & Utilities
| Cooling | Central Air |
| Heating | Central, Electric |
| Utilities | Cable Available, Electricity Connected, High Speed Internet, Natural Gas Not Available, Sewer Connected, Water Connected |
| Water Source | Public |
| Sewer | Public Sewer |
Exterior & Lot
| Construction | Masonry – All Sides |
| Roof | Membrane |
| Foundation | Slab |
| Exterior Features | Balcony, Restricted Access |
| Patio & Porch | Rear Porch, Terrace |
| Fencing | Gate |
| Lot Features | Greenbelt, Landscaped, Views |
| View | Lake, Park/Greenbelt |
| Faces | South |
Parking
| Parking Spaces | 2 |
| Garage Spaces | 2 |
| Parking Features | Assigned, Garage |
Community & HOA
| HOA | Yes |
| HOA Name | Somerset Association Management |
| HOA Fee | $1,011 / Monthly |
| Fee Includes | Common Area Maintenance, Maintenance Grounds, Maintenance Structure, Security, Sewer, Trash, Water |
| Community Features | Business Center, Cluster Mailbox, Common Grounds, Concierge, Conference/Meeting Room, Controlled Access, Covered Parking, Fitness Center, Garage Parking, Gated, Google Fiber, Hot Tub, Lake, Library, Lounge, Racquetball, Trail(s) |
| Security | 24 Hour Security, Building Security, Gated with Guard |
Assigned Schools
| Elementary | Mathews |
| Middle | O Henry |
| High | Austin |
| District | Austin ISD |
Taxes & Legal
| Tax Year | 2025 |
| Annual Tax | $8,698 |
| Assessed Value | $537,616 |
| Parcel # | 02010402160033 |
| Legal Description | UNT 3B3 BLD D TOWERS OF TOWN LAKE CONDOMINIUMS AMENDED PLUS .438% INT IN COMMON AREA |
| FEMA Flood Plain | No |
| In ETJ | No |
| Disclosures | Seller Disclosure |
| Listing Conditions | Standard |
Listing data last updated:
Frequently Asked Questions
What is the listing price of 40 N Interstate 35 #3B3, Austin, TX 78701?
This property is listed at $369,000, which is $286 per square foot. That is 64% below the Rainey Street District area median of $785/sqft.
How many bedrooms and bathrooms does 40 N Interstate 35 #3B3, Austin, TX 78701 have?
This home has 2 bedrooms and 2 bathrooms, with 1,288 square feet of living space.
When was 40 N Interstate 35 #3B3, Austin, TX 78701 built?
This property was built in 1983, making it 43 years old.
What neighborhood is 40 N Interstate 35 #3B3, Austin, TX 78701 in?
This property is in Rainey Street District, Austin, TX. The area is known for historic bungalow bars, lady bird lake access, luxury high-rises.
How long has 40 N Interstate 35 #3B3, Austin, TX 78701 been on the market?
This listing has been on the market for 162 days.
What type of property is 40 N Interstate 35 #3B3, Austin, TX 78701?
This is a Condominium on a 1,010.59 sqft lot.