Alexan Waterloo Apartments Austin Review: 2 Months Free, 30th Floor Pool, and What 402 Reviews Actually Tell You

Alexan Waterloo has 402 Google reviews and a 4.5 star rating. Sounds great on paper. But here’s something I noticed after reading every single one of them: most are from people who toured the building, not people who live in it. Actual tenants paint a different picture than the tour crowd.

I track downtown Austin apartment pricing daily through ApartmentData.com and direct community contacts. Alexan Waterloo is one of maybe five downtown high-rises that keeps coming up with my clients, and I get why. A 30th floor rooftop pool, 2 months free on a 12 month lease, and a 2021 build in the 78701 zip code? That checks a lot of boxes.

But here’s what listing sites won’t tell you: this property recently changed management companies. The concert noise from Moody Amphitheater can rattle your walls, especially summer through fall. And several current residents say the elevators go down more often than they’d like. So is it worth the rent? This review breaks down the real numbers, the real trade-offs, and who should actually sign here.

Quick Facts: Alexan Waterloo at a Glance

Two things jump out. First, that rent range. The $674 studio is a micro unit at 575 square feet, and it shows as “On Notice,” meaning someone’s leaving. Realistic starting rent for most one bedrooms? $2,700+. Second, the ApartmentRatings score. A perfect 5.0 with zero verified reviews. Every single one is from a prospect or short term visitor. That doesn’t make them useless, but it’s context worth having.

Best For / Skip If

This Property Works Best If…

You work downtown or at the Capitol and want a walk to work commute. Alexan Waterloo sits at 700 E 11th St, which puts you within a 10 minute walk of the Texas State Capitol and most of the major office buildings downtown. UT’s campus is about a mile north. If you want to ditch the car commute, this address delivers.

You’re relocating to Austin and want a building that runs like a hotel. The building has 24/7 concierge, and staff members like Lavant, Hakim, and Omar get called out by name in reviews. If you’re moving from out of state and want someone at the front desk who knows your name, that’s a real selling point. I’ve had relocating clients tell me the concierge was the reason they chose this building.

You want a rooftop pool with actual views, not a ground floor splash pad. The 30th floor pool and lounge is one of the highest you’ll find in any downtown Austin apartment building. I’ve been up there. The views are real.

Your budget supports $3,000+ per month and you want concessions to offset it. With 2 months free on a 12 month lease, your net effective rent drops a good chunk. I’ll show the exact math in the pricing section.

Skip This Property If…

You’re sensitive to concert noise. One resident described it bluntly: living next to Moody Amphitheater means concerts inside your apartment from 7 to 11 PM, most nights from summer through fall, weekdays and weekends. That’s not an exaggeration. If you work early mornings or need quiet evenings, this is a dealbreaker.

Your budget is under $2,500/month for a one bedroom. Even with 2 months free, the net effective on most one bedrooms here lands above $2,200. If you’re stretching to make rent work, there are newer buildings in East Austin or along the downtown fringe offering similar concessions at lower base rents.

You need reliable elevator service every single day. Elevator outages keep showing up in reviews across different time periods. In a 30 story building, that’s not a minor annoyance. If mobility is a concern or you’d be living on a higher floor, ask the leasing team how often the elevators go down.

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Location Deep Dive

What’s Actually Nearby

Alexan Waterloo sits on E 11th Street between I-35 and the Capitol complex. You’re in the Medical District pocket of downtown, which means hospitals, state offices, and UT are your closest neighbors.

Under a 10 minute walk: Waterloo Park (0.2 miles), Royal Blue Grocery, Waller Creek Greenbelt, multiple food trucks along E 11th. The Waterloo Greenway park system is basically across the street. A 10 to 15 minute walk gets you to Whole Foods on 5th and Lamar (0.6 miles), Republic Square, and the western end of Dirty Sixth. The 7th Street H-E-B is about 1.3 miles east, more of a drive than a walk.

You’ll need to drive for Target (South Lamar, about 3 miles), Costco (way north or way south), and most big box stores. The I-35 on-ramp is right there, which is convenient for highway access. But it also means highway noise reaches lower floor units. Worth asking about during your tour.

Commute Math

Route note: I-35 access is immediate, which helps for airport runs and north/south travel. MoPac is about 10 minutes west. The Downtown MetroRail station is 0.6 miles away, giving you Red Line access to the Domain area without driving. If you work remotely, this location does well in our best Austin neighborhoods for remote workers guide.

Neighborhood Vibe

This block of E 11th Street is quieter than you’d expect for downtown. You’re north of 6th Street’s bar scene, so weekend foot traffic isn’t really an issue. The trade-off is Moody Amphitheater, which sits close enough that concerts carry directly into west-facing units. If you’re considering this building, tour on a concert evening if possible. You’ll know within five minutes whether the noise level works for you.

Pricing and True Cost

Floor Plan Overview

Here are the most common floor plans with current base rents. I’m pulling from the property’s live pricing data:

*Net effective with 2 months free on 12 month lease

You’ll occasionally see the studio micro units (E1 at 575 sqft for $674 and E2 at 602 sqft for $1,682) pop up at much lower prices. These are smaller units built for one person. They go fast.

Net Effective Rent Calculation

Right now, the special is 2 months free on a 12 month lease. Here’s the actual math using the daily multiplier method:

Example: A1 one bedroom at $2,729/month base rent

• Lease term: 365 days (12 months)
• Free rent: 60 days (2 months)
• Daily multiplier: (365 – 60) ÷ 365 = 0.8356
• Net effective: $2,729 × 0.8356 = $2,281/month
• Monthly savings vs. base rent: $448/month
• Total first year savings: $5,458

That’s real money. But keep reading. Your actual monthly cost includes fees that stack on top of rent.

Fee Breakdown

That $300 admin fee is standard for downtown Austin. And $65 for an application? On the lower end. Some downtown buildings charge $75-100. What catches people off guard is the amenity fee and AT&T internet package. Those are mandatory monthly charges on top of your base rent, and they don’t show up in the advertised rent number. Factor them in.

True Monthly Cost Scenario

Here’s what a realistic month looks like for a one bedroom renter with one dog:

Your move in costs on top of first month’s rent: $65 application fee + $300 admin fee + security deposit (varies) + pet deposit ($250-$500) + pet non-refundable fee ($250-$500). Budget $1,000-$1,500 beyond your first month’s rent.

Want to know what specials are actually available right now?

Specials change constantly. What’s listed above was accurate as of July 2026. I talk to leasing teams weekly, and offers shift. Fill out the form below and I’ll confirm current availability and pricing for your specific move in date.

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Screening Criteria

Income Requirements

Alexan Waterloo requires 3x monthly rent in gross household income. Here’s what that looks like at different rent levels:

Important note: They qualify you on the base (listed) rent, not net effective rent. Even though your effective payment is $2,281/month on the A1, you’ll need to show income supporting the $2,729 base. With a roommate or co-applicant, combined household income counts.

Credit Expectations

Alexan Waterloo does not publish a specific credit minimum. Based on the building, rent levels, and Kairoi Residential’s general screening standards, here’s what I’d expect:

• 650+ credit: Smooth approval, standard deposit
• 600-649: Likely approval with potentially higher deposit
• Below 600: Approval gets uncertain. This is a 2021 downtown high-rise with rents above $2,700 for most units. Properties at this price point rarely flex below 600.

If your credit is in the 550-599 range, I’d steer you toward properties with published minimums in that range. Check our second chance apartments guide for options with proven flexibility.

What Gets You Denied

Let me be direct about what typically triggers automatic denial at a property like this:

• Active eviction on your record
• Outstanding property debt (money owed to a previous landlord showing on LexisNexis)
• Not enough income documentation
• Certain felony convictions going back a set number of years (varies by management company)
• Lying on your application

Application Process

1. Apply online through the Alexan Waterloo website ($65 per applicant, non-refundable)
2. Background and credit screening runs through a third party service
3. Approval or denial typically within 2-3 business days
4. Sign the lease and schedule your move in date (12 month minimum for current specials)

Here’s what working with a locator gets you at this property: I can tell you whether you’re likely to qualify before you spend $65 finding out. If Alexan Waterloo’s screening looks tight for your situation, I know which nearby properties have more flexibility. And if you do apply through me, I can follow up directly with the leasing team if your application stalls. My service is free. The property pays my referral fee from their marketing budget, not from your rent.

Resident Reviews Decoded

I pulled reviews from Google (402), ApartmentRatings (26), Birdeye (416+ aggregated), Yelp (barely anything, just 1 review), Wanderlog, HAR, and ForRent. Individual complaints aren’t that useful on their own. Repeated themes across multiple platforms are.

Review Pattern Analysis

What Residents Praise

Here’s what jumped out: the leasing staff gets called out by name more than any other downtown property I track. Emily (69 mentions), Hamsa (56), Bryan (31), Kim (22), Jason (22), and Anna (17) all get specific praise. You don’t see that kind of consistency across 400+ reviews unless the team is actually engaged. Dimitrius, Javier, and McCartney are newer additions under Kairoi Residential, and early reviews say they’ve kept it up.

And then there’s the concierge. Lavant and Hakim keep getting singled out for knowing residents by name, helping with deliveries, and doing more than you’d expect. One resident described the building as feeling more like a condo than an apartment because of how responsive the team is.

Maintenance under the current management has been solid. Diego, Sostinez Martinez, and Raul all get mentioned by name for being prompt and friendly. One resident reported a broken washing machine fixed by the next afternoon. That kind of turnaround matters in a high rise where you can’t just call your own plumber.

What Residents Criticize

Elevators are the most consistent complaint from actual tenants. One resident wrote that outages are “a daily issue” and said be ready to climb stairs. Another longtime resident said that having only one elevator running “takes forever.”

In a 30 story building, that’s not a minor inconvenience.

Several residents have noticed a gap between the Google rating and the actual living experience. Two different reviewers both pointed out that most five star reviews come from tour visitors, not tenants. One went further, saying the property asks visitors to scan a QR code and leave a review during their tour. That’s not unusual for apartment buildings, but it does push the score higher than the actual living experience would justify.

Management Response Pattern

Management responds to virtually every review, positive or negative. Quick turnaround, usually within a week. The responses are mostly template copy (you can tell), but negative reviews get personal outreach offers (“email me at kpiland@alexanwaterloo.com“). That at least shows they’re willing to work through issues directly rather than just posting a canned response and moving on.

The Uncomfortable Truth

No listing site will write this section. I’m not trying to kill the deal. I just want you to know exactly what you’re signing up for.

The Moody Amphitheater Problem Is Real

Brooke Tashjian described it plainly: Moody Amphitheater concerts come through your apartment walls from 7 to 11 PM most nights, summer through fall, on both weekdays and weekends. This isn’t background noise you can ignore with headphones. If you’re a light sleeper, work early mornings, or need quiet evenings to decompress, this is a dealbreaker. West-facing units get hit hardest. Ask the leasing team how loud it gets on your floor and which direction your unit faces before you sign.

The Tour Review Problem Skews Your Expectations

Look at Google’s own filter tags for this property: “helpful staff” (96 mentions), “tour” (59 mentions), “leasing process” (50 mentions). Most of the five star reviews describe a 30 minute tour, not months of living here. The handful of detailed tenant reviews tell a more mixed story: elevator issues, fee surprises, pricing that didn’t match the website. This doesn’t mean the building is bad. It means you should pay more attention to the detailed, long term resident reviews than the tour reviews.

The Website Rent Isn’t Your Actual Base Rent

Multiple reviewers have brought up a pricing issue. One reviewer on HAR broke it down: the website advertises a monthly rent (say $2,700) alongside an “8 weeks free” promo, but that $2,700 is already the prorated net effective, not the base rent. The actual base rent in the months you’re not getting free rent was closer to $3,190 for their unit. With fees, their two bedroom totaled about $4,000/month. Another reviewer called it the property “lying about the monthly rent” because the lease price was $600 more than the website showed. This is how some apartment pricing software works, but it catches people off guard. Before you apply, ask the leasing team: “What is my actual base rent in the months I’m not receiving a concession?” Get that number in writing.

Ready to move forward, or want to explore alternatives?

You’ve seen the full picture now. If Alexan Waterloo fits, I can help you apply. If you’d rather explore downtown alternatives without the concert noise or elevator concerns, I have options.

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Frequently Asked Questions

Does Alexan Waterloo allow pets?

Yes. Up to 2 pets with a 100 lb weight limit per pet. Expect $250-$500 deposit, $250-$500 non-refundable fee, and $30/month pet rent per animal. Breed restrictions apply: Pit Bull Terriers, Staffordshire Terriers, Presa Canarios, Rottweilers, Akitas, Doberman Pinschers, Alaskan Malamutes, Chow Chows, and Wolf Hybrids are prohibited. Contact the leasing office for the full list.

What credit score do I need for Alexan Waterloo?

No published minimum. Based on the building and rent levels, I’d expect 620+ for standard approval and 650+ for the smoothest process. Below 600, your options at this price point get limited. I can pre-screen your situation before you apply.

What’s included in rent at Alexan Waterloo?

Every unit has a full size washer/dryer (supplied in most floor plans, connection only in select plans), smart home tech, USB outlets, and vinyl plank flooring. Parking, pet fees, and electricity cost extra. Internet is a required AT&T package at $70/month. And here’s one that surprises people: there’s a mandatory amenity fee. $125/month for studios and one bedrooms, $150 for two bedrooms, $200 for three bedrooms and penthouses.

How much is parking at Alexan Waterloo?

Garage and reserved spaces run $125-$250 per month. Surface lot parking is an option too. The parking garage recently got security system upgrades after resident complaints about people getting in and out.

Is Alexan Waterloo loud?

It depends on your unit’s orientation. West-facing units get hit with sound from Moody Amphitheater concerts (summer through fall, 7-11 PM most nights). Noise between apartments doesn’t seem to bother most residents. Street noise from I-35 may affect lower floor units. Tour during a concert night to test for yourself.

What move in specials does Alexan Waterloo offer?

Currently 2 months free (100% off rent for 2 months) on a 12 month lease. Specials change regularly. I track downtown Austin concessions weekly and can confirm what’s available for your move in date.

Who manages Alexan Waterloo?

Kairoi Residential manages the property now. The building used to be run by Hanover Company. Recent reviews say things have gotten better under the new team, with more community events and better communication.

When was Alexan Waterloo built?

Completed in 2021. It’s a 30 story concrete and steel high rise, which means it blocks noise between units better than older wood frame construction. Trammell Crow Residential developed it. It went up during the same 2020-2022 building wave that added thousands of units to downtown Austin.

The Bottom Line: Is Alexan Waterloo Worth It?

Alexan Waterloo delivers some genuinely strong things. Solid walls from the 2021 concrete construction. A rooftop pool on the 30th floor that’s legitimately one of the best in Austin. A leasing and concierge team that people know by name. And a downtown location where you can actually walk to dinner, work, and the lake trail without touching your car.

Two months free on a 12 month lease drops a $2,729 one bedroom to $2,281 net effective. That’s a real first year discount on a building of this quality.

But the trade-off is clear. Moody Amphitheater noise is a structural reality of this address, not something management can fix.

This property makes sense if:

• You earn $100K+ and want a walkable downtown address with hotel style services
• You’re relocating from out of state and want a building that feels like a community from day one
• Concert noise from 7-11 PM several nights a week doesn’t bother you
• You’re looking at properties like The Waller, Avenir, or 700 River and want to compare

This property doesn’t make sense if:

• Your budget is under $2,500/month after concessions
• Quiet evenings are non-negotiable for your work schedule or lifestyle
• Elevator reliability concerns you (ask about this on your tour)
• You want verified long term resident reviews to back up the rating (most reviews here are from tours)

My verdict: the first year math works well with 2 months free. The building quality is legitimate, and the staff earns the praise they get. But tour during a concert night and ride the elevator a few times before you commit. Those two factors will tell you more than any review.

Want help figuring out if Alexan Waterloo is the right fit? Or would you rather look at similar downtown Austin apartments without the concert noise factor? Fill out the form below and I’ll text you within a few hours.

Need Help Deciding?

You’ve got everything to size up Alexan Waterloo on your own. But if you want help:

Fill out the form above and I’ll text you to answer questions, check your approval odds, share current specials, and figure out next steps. You’ll talk to me directly. Not an AI phone system.

Going solo? No problem. Just tell them “Ross Quade from Austin Apartment Team” referred you on your tour and application. Text me at 512-360-0852 when you apply so I can make sure everything’s on track.