401 N Silver Street, Lake City, CO 81235
None · Hinsdale County
Key Facts
Description
Investment Opportunity awaits! If you're seeking a property with income potential nestled in one of Colorado's prime outdoor recreation destinations, look no further. The property at 401 N Silver St in Lake City, CO, is a unique offering comprised of six distinct rental units. Built in 1960, this multi-family property is perfect for investors aiming to capture rental income from a steady stream of outdoor enthusiasts and locals alike. This 4,015-square-foot building is divided into six units: one 3-bedroom unit with a 3/4 Bath on the main level and a 3/4 Bath upstairs, one 2-bedroom unit with a full bathroom, and four 1-bedroom units, each equipped with a 3/4 bathroom. The diversity in unit size offers flexibility for various tenant needs, appealing to different segments within the rental market. Situated in the heart of Lake City, this property's location is its standout feature. Lake City is renowned for its breathtaking scenery and wealth of outdoor activities. It's home to the Alpine Loop, a highly sought-after locale for hiking and off-road driving. In the winter many can be found enjoying the thrills of ice climbing in Lake City. Additionally, Lake San Cristobal, Colorado's second-largest natural lake, offers opportunities for boating, kayaking, paddle boarding, and ice fishing, drawing year-round tourism. These amenities make Lake City an attractive place for both short-term and long-term tenants, ensuring those units are not left vacant for long. Investors with a keen eye for potential rental income will not want to miss this property! Its location and structure offer a unique blend of small-town charm and modern convenience. Owning property in Lake City means tapping into a market that values its natural surroundings and outdoor amenities, thereby supporting always-in-demand rental real estate. This property offers potential for long-term growth and equity. It's a chance to invest in one of Colorado's hidden gems and secure a foothold in this picturesque community. Foundation repairs have been made! Buyer to verify all sq footage. For more information or to schedule a viewing, feel free to contact me directly.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Style
Contemporary
Year Built
1960
Stories
2
Living Area
4,015 sq ft
Lot Size
0.21 acres
Garage Spaces
1
MLS® Listing#
822616
Property Features
Interior
Appliances
Heating
Flooring
Basement
Construction
Roof
Sewer
Water Source
Schools
- Elementary:
- Lake City K-12
- Middle:
- Lake City K-12
- High:
- Lake City K-12
Financial Details
Annual Taxes
$1,466
Tax year 2024
Parcel Number
450927341006
Directions
From 200 N Gunnison St, Head North on GUNNISON AVE .2 Miles, take a left onto 4th Street, Turn Right onto Silver St and go .1 Miles. The property is on the left.
Affordability Calculator
$99,800
Estimated monthly payment
$2,656/mo
Principal $399,200 · Est. interest $556,920 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lake City, CO
- $502,687
- Median Listing Price
- 64
- Median Days on Market
- 1,912
- Median Sq Ft
- $254
- Median Price / Sq Ft
- 1,472
- Active Listings
- This home’s price is 1% below the area median.
- Its price per sq ft is 51% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lake City, CO.
Location
Points of Interest in Lake City, CO
Showing the Lake City area map.
Nearby Schools
Lake City Community School
School · 0.2 mi away
Ouray Public Schools
Secondary · 19.2 mi away
Silverton Public School
Secondary · 24.3 mi away
Lamb Elementary School
Elementary · 24.7 mi away
Ridgway High School
Secondary · 25.7 mi away
Ridgway School District R-2
School · 25.7 mi away
Creede School District
Elementary · 25.7 mi away
Ridgway School District R-2
School · 25.8 mi away
Ridgway Elementary School
Elementary · 25.8 mi away
Mountain Sprouts Preschool
School · 27.6 mi away
Telluride Elementary School
Elementary · 27.8 mi away
Telluride School District
Elementary · 28.0 mi away
Telluride Academy
School · 28.1 mi away
Telluride High School
Secondary · 28.1 mi away
Telluride Intermediate School
Elementary · 28.1 mi away
Telluride Mountain School
School · 31.2 mi away
Cottonwood Elementary School
Elementary · 41.0 mi away
Seasons Schoolhouse
School · 41.2 mi away
Gunnison High School
Secondary · 41.3 mi away
Gunnison Middle School
Secondary · 41.6 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 608 Del Rey Avenue, Canon City, CO | $600,000 | 13 | — | — |
Moving Cost Estimate
EXIT Agents in Lake City
Listing Courtesy: Crystal Peak Properties - kelseyloftis@crystalpeakproperties.com
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Real Estate listings held by companies other than Crystal Peak Properties contain that company's name.
Fair Housing Disclaimer
Date Last Updated
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PUBLISHERS NOTICE: All information is deemed reliable but is not guaranteed and should be independently verified. All real estate advertised herein is subject to the US Federal Fair Housing Act of 1968 and the Colorado Fair Housing Act, which makes it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin. Please check with your local government agency for more information.