Rare opportunity in Lincoln Park! 701 Galapago St is a versatile multi-unit property on a coveted corner lot offering strong income potential with the flexibility to live in one unit while renting the others. With approximately 3,382 sq ft of living space on a 3,550 sq ft lot, this property… Read More is ideal for investors, landlords, house-hackers, or owner-occupants seeking built-in rental income in one of central Denver's most dynamic neighborhoods. Extensive capital improvements completed in 2022 include new outdoor siding and exterior paint, new windows, new vinyl and wood flooring, new carpet in bedrooms, new bathrooms, new stainless steel appliances, new interior paint, new drywall, and sewer replacement in the basement. Additional system upgrades include replaced furnaces and water heaters, providing enhanced efficiency, comfort, and reduced near-term maintenance. The property features three private-entry units with the following configuration: * Unit A (Ground Level): 3 bed / 2 bath - Rent $2,150 * Unit B (Second Level): 2 bed / 1 bath - Rent $2,000 * Unit C (Basement Level): 2 bed / 1 bath - Rent $1,700 Financial highlights include gross annual income of $70,200, operating expenses of $11,873, and a 5.03% cap rate, offering immediate cash flow with long-term appreciation potential. Located minutes from Downtown Denver, the Santa Fe Art District, parks, restaurants, breweries, shopping, and public transit, this walkable location continues to see strong demand from both tenants and homeowners alike. Whether you are seeking a turnkey investment, planning to house-hack and offset your mortgage, or looking for a centrally located primary residence with income potential, this property delivers exceptional versatility, modern improvements, and long-term value in a rapidly evolving urban corridor. Read Less
Architectural Style: "Victorian", "Attached", Construction Materials: "Vinyl Siding", "Wood Siding", Levels: "Three Or More", Living Area: 3198, Year Built: 1886
Provided for limited non-commercial use only under IRES Rules. Listing information 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. Information deemed reliable but not guaranteed by the MLS. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Confirm your time
Fill in your details and we will contact you to confirm a time.
