$550,000
PENDING $200K PRICE DROP

401 N Silver St Lake City, CO 81235

Estimated payment $3,119/month

Total Views 4,491
9 Beds
7 Baths
4,015 Sq Ft
$137 Price per Sq Ft

Highlights

  • Mountain View
  • 1 Car Attached Garage
  • Carpet
  • Contemporary Architecture
  • Eat-In Kitchen

About This Home

This home is located at 401 N Silver St, Lake City, CO 81235 and is currently priced at $550,000, approximately $136 per square foot. This property was built in 1960. 401 N Silver St is a home with nearby schools including Lake City Community School.

Listing Agent

Kelsey Loftis

Crystal Peak Properties Listed on: 04/04/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,466

Year Built

  • Built in 1960

Lot Details

  • 9,148 Sq Ft Lot

Property Views

  • Mountain
  • Valley

Home Design

  • Contemporary Architecture
  • Concrete Foundation
  • Metal Roof
  • Cedar Siding

Interior Spaces

  • 4,015 Sq Ft Home
  • 2-Story Property

Kitchen

  • Eat-In Kitchen
  • Oven or Range
  • Range
  • Microwave

Flooring

  • Carpet
  • Laminate

Parking

  • 1 Car Attached Garage
  • Gravel Driveway

Schools

  • Lake City K-12 Elementary And Middle School
  • Lake City K-12 High School

Community Details

  • 6 Units

Listing and Financial Details

  • Assessor Parcel Number 450927341006

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,466

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Appliance Inclusions: Range/Oven, Range Top, Refrigerator, Microwave
  • Estimated Total Acres: 0.21
  • Class: Multifamily
  • Em Deposit: 10,000.00
  • Em Holder: Title company
  • Legal Lot Block: 401 N SILVER ST LOTS 14-15-16 BLOCK 41 TOWN OF LAKE CITY
  • Lot Size Acreage: Less than 1/2
  • Parcel Id Number: 450927341006
  • Price Per Sq Ft: 136.99
  • Residence Stories: Two Story
  • Residence Style: Contemporary
  • Sale/Rent: For Sale
  • Siding: Cedar
  • Street Descriptionaccess: City/Town
  • Street Designation: Street
  • Zoning: Residential Multi Family
  • Domestic Water Sewer: City Water, City Sewer
  • Heating Fuelsystem: Electric, Propane Tank Leased
  • Landlord Pays: Building Insurance, Real Estate Taxes, Gas, Water/Sewer
  • Metered: Metered for Electricity, Metered for Water
  • Multi Story: Yes
  • Type: Sixplex
  • Access: Year Round
  • Total Taxes Dollar: 1466.12
  • Year Built: 1960
  • Prop Description Remarks: 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. For more information or to schedule a viewing, feel free to contact me directly.
  • Special Features: UnderContract
  • Property Sub Type: MultiFamily
  • Stories: 1074

Interior Features

  • Dining Room: Eat-in Kitchen
  • Flooring: Carpet, Laminate
  • Estimated Total Sq Ft: 4015
  • Full Bathrooms: 1
  • Half Bathrooms: 0
  • Bathrooms Quarter: 0
  • Bathrooms Three Quarters: 6
  • Total Bathrooms: 7
  • Foundation: Concrete
  • Total Office Den: 0

Exterior Features

  • Roof: Metal
  • Views: Mountains, Valley

Garage/Parking

  • Garage Type: Attached Garage
  • Garage: Yes
  • Garage Capacity: 1
  • Parking: Gravel

Utilities

  • Electric Supplier: Gunnison County Electric Association
  • Gas Supplier: JC Propane
  • Water Supplier: Town of Lake City

Schools

  • Elementary School: Lake City K-12
  • Middle School: Lake City K-12
  • High School: Lake City K-12
  • High School: Lake City K-12

Lot Info

  • Geo Subdivision: CO

Rental Info

  • Furnished: Unfurnished

Multi Family

  • No. of Units: 6

Tax Info

  • Tax Year: 2024

MLS Schools

  • Elementary School: Lake City K-12
  • Middle School: Lake City K-12

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,466 $23,840 $4,980 $18,860
2023 $1,473 $23,840 $4,980 $18,860
2022 $1,388 $22,810 $6,360 $16,450
2021 $1,434 $23,990 $0 $23,990
2020 $1,265 $22,130 $6,440 $15,690
2019 $1,262 $22,130 $6,440 $15,690
2018 $1,288 $22,280 $0 $22,280
2017 $1,215 $22,280 $0 $22,280
2016 $1,341 $24,620 $7,160 $17,460
2015 $1,255 $24,620 $7,160 $17,460
2014 $1,255 $23,100 $7,160 $15,940
2013 $1,194 $23,100 $0 $0
2012 $1,369 $26,600 $7,160 $19,440
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/15/2025 08/15/25 Pending -- -- --
07/31/2025 07/31/25 Price Changed $550,000 -8.3% $137 / Sq Ft
06/10/2025 06/10/25 Price Changed $599,999 -12.4% $149 / Sq Ft
05/02/2025 05/02/25 Price Changed $685,000 -8.7% $171 / Sq Ft
04/04/2025 04/04/25 For Sale $750,000 -- $187 / Sq Ft
Source: Colorado Real Estate Network (CREN)

Source: Colorado Real Estate Network (CREN)

MLS Number: 822616

Colorado Real Estate Network (CREN)

APN: R001235