For Sale Condo MLS# ACT4776980

54 Rainey St #502

Austin, TX 78701

$849,500

About 54 Rainey St #502

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.

Property details

Property

Type
Condominium
MLS type
Residential
Status
Active
Year built
2005
Stories
One
Living area
1,557 sqft
Price / sqft
$546
Lot
0.009 AC / 392 SF
Full baths
2
Original price
$849,500
MLS #
4776980

Interior

Features
Breakfast Bar, Ceiling Fan(s), Granite Counters, Open Floorplan, Primary Bedroom on Main, Recessed Lighting, Soaking Tub, Walk-In Closet(s)
Appliances
Dishwasher, Electric Range, Microwave, Stainless Steel Appliance(s)
Flooring
Tile, Wood
Heating
Central
Cooling
Central Air
Laundry
Laundry Closet
Windows
Window Treatments

Exterior & lot

Features
Balcony
Roof
Membrane
Foundation
Slab
View
City, Downtown, River, Skyline
Parking
Assigned, Garage, Secured
Garage spaces
2

Schools

District
Austin ISD
Elementary
Mathews
Middle
O Henry
High
Austin

Utilities

Utilities
Electricity Available, Sewer Available, Water Available
Water
Public
Sewer
Public Sewer
Security
Building Security

Financial

HOA
Yes
Annual tax
$15,009
Tax year
2026
Parcel
02030312500000
Legal
UNT 502 MILAGO CONDOMINIUMS AMENDED PLUS .591 % INT IN COM AREA
Special conditions
Standard

Location

Subdivision
Milago Condo Amd
County
Travis
Directions
Drive south on Lavaca St, turn right onto W 11th St, then right onto the I-35 Frontage Rd. Continue onto East Ave, turn right onto River St, and at the traffic circle, turn left onto Rainey St. The destination will be on your right.

Location

Neighborhood
Milago Condo Amd

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Listed by Michael Frost, Compass RE Texas, LLC

Listing information is provided by the participating MLS / IDX program and is deemed reliable but not guaranteed. All information should be independently verified. Equal Housing Opportunity.