401 N Silver St Lake City, CO 81235
Property details
About 401 N Silver St
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.
Highlights
Summary
- Full Bathrooms: 7
- Appliances: Range, Oven, Range, Refrigerator, Microwave
- Basement: Yes
- Flooring Type: Carpet, Laminate
- Garage Space: 1 space
- View: Mountain(s), Valley
- Heating: Electric, Propane
- List Price: $685,000
- Annual Tax Amount: $1,472
- Tax Year: 2023
- 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.
- Lot Size: 0.21 Acres
- MLS Number: 822616
- Office Name: Crystal Peak Properties
- Listing Agent: Kelsey Loftis
SOURCE: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network (CREN). All data deemed reliable but not guaranteed and should be independently verified. The information contained in this publication is subject to change without notice.
TERMS OF USE: This publication is designed to provide information with regard to the subject matter covered. This 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. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.
WARRANTY: COLORADO REAL ESTATE NETWORK (CREN) MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. COLORADO REAL ESTATE NETWORK SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.
COPYRIGHT (2024) by COLORADO REAL ESTATE NETWORK, 121 N PARK AVENUE, SUITE# 4, MONTROSE, CO 81401 USA
ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of Colorado Real Estate Network (CREN).
Real Estate listings held by companies other than this brokerage contain that company's name.
Fair Housing Disclaimer 
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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/4/2025, 8:45:30 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$685,000
401 N Silver St
$8,134
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $23,840 | $1,472 |
| 2022 | $22,810 | $1,387 |
| 2021 | $23,990 | $1,433 |
| 2020 | $22,130 | $1,264 |
| 2019 | $22,130 | $1,261 |
| 2018 | $22,280 | $1,287 |
| 2017 | $22,280 | $1,214 |
History based on county public records data.
Nearby schools
6
Ridgway Elementary School
Public District PK-5
23.8 mi
•1115 Clinton St
8
Telluride Intermediate School
Public District 3-6
24.3 mi
•447 W Columbia Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
All data from GreatSchools
Neighborhood
The neighbors living near this home have an average income of $78,500. The most common annual income of people living in Lake City, CO is between $35k-100k. Residents typically live in married, no kids family. The most common level of education of people living in this area is post secondary degree.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Hunting
Figure Skating
Pro Wrestling
Where do the neighbors shop?
Dillards
Dollar General
Wal-Mart
Where do the neighbors go to eat?
Cracker Barrel
Applebees
Hardee's
What do the neighbors drive?
Cadillac
Ram
Dodge
What do the neighbors listen to?
News/Talk/Information
Classic Country- Country
Frequently asked questions
About 401 N Silver St
The listing price of 401 N Silver St property is $685,000.
The property 401 N Silver St is a multi located in Lake City, Colorado, 81235.
Active Listing: 401 N Silver St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 401 N Silver St are: Ridgway Elementary School (GreatSchools Rating 6/10), Telluride Intermediate School (GreatSchools Rating 8/10), Ridgway Middle School (GreatSchools Rating 7/10), Telluride Middle School (GreatSchools Rating 8/10), Ouray High School (GreatSchools Rating 7/10), Ridgway High School (GreatSchools Rating 8/10), Telluride High School (GreatSchools Rating 7/10).
According to the records, the last property tax for 2023 is $1,472 (source: MLS/based on county public records data).
This home is located at 401 N Silver St in Lake City, CO and zip code 81235. Features: 7 bathrooms. It has been listed on Rocket Homes since April 4, 2025 and is currently priced at $685,000.
The number of listings in Lake City, CO increased by 20% between April and May 2025. In May 2025 median list price was $787,000 and the average listing age was 216 days.