For Sale House MLS# 6715532

701 Galapago Street

Denver, CO 80204

$975,000

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About 701 Galapago Street

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.

Property details

Property

Type
Single Family Residence
MLS type
Residential
Status
Active
Year built
1886
Stories
3
Living area
3,198 sqft
Price / sqft
$305
Lot
0.08 AC / 3,350 SF
Full baths
1
MLS #
6715532

Interior

Features
Ceiling Fan(s), High Ceilings
Appliances
Dishwasher, Disposal, Oven, Range, Refrigerator
Flooring
Vinyl
Heating
Forced Air
Laundry
In Unit
Windows
Double Pane Windows

Exterior & lot

Roof
Composition
Lot
Level

Schools

District
Denver 1
Elementary
Dora Moore
Middle
KIPP Sunshine Peak Academy
High
KIPP Denver Collegiate High School

Utilities

Utilities
Electricity Connected
Water
Public
Sewer
Public Sewer

Financial

Annual tax
$3,832
Parcel
5036-15-038
Special conditions
None Known

Location

Subdivision
Elmwood Add
County
Denver

Ask about this property

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Listed by Nikolina Jugovic, Real Broker, LLC DBA Real

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