
54 Rainey St, Austin, TX 78701
What This Condo Offers
Experience elevated downtown living in this stunning south-facing 2-bedroom, 2-bath residence at Milago, one of Austin's premier waterfront high-rises. Perched... on the 12th floor, Unit 1201 is filled with natural light and showcases breathtaking views of Lady Bird Lake, two balconies, lush treetops, and the Austin skyline through expansive floor-to-ceiling windows. The thoughtfully designed open-concept floor plan features wide-plank wood flooring, high ceilings, and spacious living and dining areas that flow seamlessly to a private covered balcony, perfect for enjoying morning coffee, spectacular sunsets, or watching paddleboarders and kayakers on the lake below. The sleek modern kitchen is appointed with contemporary cabinetry, quartz countertops, stainless steel appliances, and generous storage, making it ideal for everyday living and entertaining. The spacious primary suite offers oversized windows, ample closet space, and a beautifully finished en-suite bath. A well-appointed second bedroom and adjacent full bath provide flexibility for guests, a home office, or a roommate-friendly layout. This unit comes with a dedicated climate controlled storage space. Milago residents enjoy resort-style amenities including a rooftop pool and spa overlooking Lady Bird Lake, a fully equipped fitness center, resident clubroom, conference room, Wi-Fi lounge, 24-hour concierge, controlled access, secure parking, and direct access to the Ann and Roy Butler Hike-and-Bike Trail. Ideally located between the vibrant Rainey Street District and Downtown Austin, you'll be just steps from acclaimed restaurants, coffee shops, live music, parks, kayaking, paddle-boarding, and Austin's best entertainment. Offering luxury, convenience, and exceptional south-facing views, this residence is an outstanding opportunity to experience the very best of downtown waterfront living. MLS ID 2708728
Unit 1201
- $4,900 / month
- 2 Beds
- 2 Baths
- 1289 sq. ft.
- Available Now
Condo Features
- Balcony
- Dishwasher
- Disposal
- Hardwood Floors
- Tile Floors
54 Rainey St Unit 1201 is a condo for rent in Austin, TX
Condo Details
Views
- Lake Views
Home Design
- Built in 2005
- Condominium
Interior Spaces
- Open Floorplan
- High Ceiling
- Recessed Lighting
- Storage
- 1-Story Property
- Ceiling Fan
- 1289 Sq Ft Home
Kitchen
- Quartz Countertops
- Free-Standing Electric Range
- Dishwasher
- Disposal
Flooring
- Wood
- Tile
Bedrooms and Bathrooms
- Double Master Bedroom
- Soaking Tub
- Walk-In Closet
- 2 Main Level Bedrooms
- 2 Full Bathrooms
- 2 Bedrooms | 2 Bathrooms
Laundry
- Washer and Dryer
Home Security
- Smart Thermostat
- Fire and Smoke Detector
- Fire Sprinkler System
Parking
- Secured Garage or Parking
- Guest Parking
- Assigned Parking
- 2 Car Garage
- Reserved Parking
Pool
- Spa
Outdoor Features
- Balcony
Lot Details
- 322 Sq Ft Lot
- South Facing Home
Schools
- Mathews Elementary School
- O Henry Middle School
- Austin High School
Utilities
- Central Air
- Private Water Source
- Electricity Connected
- Sewer Connected
- Water Connected
- Private Sewer
Listing and Financial Details
- Security Deposit $4,900
- 12 Month Lease Term
- $40 Application Fee
- Assessor Parcel Number 02030314070000
- Tenant pays for all utilities
- The owner pays for association fees
Community Details
Overview
- Community Lake
- Lock-and-Leave Community
- 240 Units
- Milago Condo Amd Subdivision
Amenities
- Concierge
- Clubhouse
- Business Center
- Meeting Room
- Sundeck
- Bike Room
- Common Area
- Community Mailbox
Recreation
- Fitness Center
- Community Pool
Pet Policy
- Pets allowed on a case-by-case basis
- Pet Deposit $500
Security
- 24-Hour Security
- Card or Code Access
Explore Commute Options
- Drive Time--
- Walk Time--
- Bike Ride Time--
- Public Transit--
Get In Touch
Austin, TX 78701

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. ABoR, ACTRIS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property listing is offered without respect to any protected classes in accordance with the law. Copyright © 2026.
Area Scores
Walkability
Very walkable80 / 100
Transit
Some public transit50 / 100
Driveability
Moderately drivable70 / 100
Bikeability
Very bikeable80 / 100
Soundscore ™
Busy67 / 100
Travel and Transit

Local Education
Colleges and Universities
School
Commute Time (Distance)
University of Texas at Austin
Drive: 5 min (2.3 mi)
Austin C.C., Rio Grande Campus
Drive: 5 min (2.6 mi)
Austin C.C., Eastview Campus
Drive: 6 min (2.9 mi)
St. Edward's University
Drive: 6 min (3 mi)
Discover Texas Capital, Austin, TX
Shopping Centers
Shoppers will appreciate 54 Rainey St Unit 1201 proximity to Saltillo, 805 & 809 E 6th St, and 6th & Congress. Saltillo is 0.8 miles away, and 805 & 809 E 6th St is within a 14 minute walk.
Commuting
With a TransitScore of 50, 54 Rainey St Unit 1201 has some public transit, including 8 transit stops within 36.5 miles. Transit options include Downtown Station and Plaza Saltillo Station.
Parks and Recreation
Recreational activities near 54 Rainey St Unit 1201 are plentiful. Discover 5 parks within 3.2 miles, including Lady Bird Lake, Umlauf Sculpture Garden and Museum, and Blunn Creek Nature Preserve.
Airports
Living in Texas Capital provides easy access to Austin-Bergstrom International, located just 22 minutes from 54 Rainey St Unit 1201.
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