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Source Home Group

admin@sourceofhome.com +1(970) 528-0604

$1,050,000

Est. payment - /mo

6 Beds

4 Baths

3,198 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 3,198 sqft

Price per Sqft $328

Subdivision Elmwood Add

MLS Listing ID 6715532

Style Victorian

Bedrooms 6

Full Baths 1

HOA Y/N No

Year Built 1886

Lot Size 3,350 Sqft

Acres 0.08

Property Sub-Type Single Family Residence

Property Description

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 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.

Location

State CO

County Denver

Zoning U-RH-3A

Rooms

Basement Finished

Interior

Interior Features Ceiling Fan(s), High Ceilings

Heating Forced Air

Cooling None

Flooring Vinyl

Appliance Dishwasher, Disposal, Oven, Range, Refrigerator

Laundry In Unit

Exterior

Utilities Available Electricity Connected

Waterfront Description Public

Roof Type Composition

Private Pool No

Building

Lot Description Level

Story Three Or More

Sewer Public Sewer

Water Public

Architectural Style Victorian

Schools

School District Elementary: Denver 1, Middle/Junior: Denver 1, High: Denver 1

Others

Senior Community No

Tax ID 5036-15-038

Special Listing Condition None Known

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Listed byReal Broker, LLC DBA Real

Nearby School & Business

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Source Home Group

+1(970) 528-0604

Agent FA.100072314

701 Galapago ST Denver, CO 80204

Source Home Group

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

Get More Information