It's quiet on the 10th Ave side, and the hardwood floors are well-kept, and some units have cute glass cabinets (see below).
Plus, as jonglix rightly said, it's insanely convenient--within one block you have a bookstore, a liquor store, a bus stop, a grocery store, three coffee shops, two gyro places, pho, and pizza. Within one block!
The Austin has been home to multiple CHS contributors. It's relatively friendly by Seattle standards and has some really nice units. Its greatest weakness is its greatest strength, being really close to Broadway. My unit was plagued by noise echoing from the Mexican restaurant on top of Broadway Market. The management company kept the building and unit in very good physical condition but the radiator heat in my unit didn't work very well (had to use a space heater). Has storage units and a few parking spots for rent but you can walk just about anywhere.