Up/Down Duplex with
1024 Lipan Street, Denver, CO 80204
For Sale
$750,000
Two separate residences, updated kitchens and baths, private outdoor areas, and a detached garage support flexible occupancy.
Property Size1,687 SF
Lot Size0.09 Acres
Days on Market61
Property Features for 1024 Lipan Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
private balcony
covered front porch
fenced backyard
firepit
Building Details
Building Size
Year Built
Listing Agency:
Rocky Mountain Real Estate Inc
Listed By:
Carrie Hill · License CO #7861538
(303) 440-3663
Source:
Guidere
Added: Sep 14
Changed: Nov 4
Last Checked: Nov 12 at 2:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rocky Mountain Real Estate Inc
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Investment Insights
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Built in 1885, this up-and-down duplex contains two self-contained 2-bedroom residences with separate living areas, kitchens, and in-unit laundry. Interior character includes etched glass, high ceilings, and wood floors, while updated cabinetry, granite countertops, and custom-tile baths add modern functionality. One residence includes a private backyard access point, and the upper unit features an eat-in kitchen and private balcony.
The property occupies a 3,750-square-foot lot zoned U-TU-B, with future redevelopment potential subject to applicable zoning and city requirements. A detached oversized 2-car garage is currently leased separately. Outdoor amenities include a covered front porch, fenced backyard, and firepit. Located at 1024 Lipan Street in Denver’s Lincoln Park neighborhood, the duplex is near Auraria Campus, downtown Denver, the Santa Fe Arts District, restaurants, entertainment, and transit.
The property occupies a 3,750-square-foot lot zoned U-TU-B, with future redevelopment potential subject to applicable zoning and city requirements. A detached oversized 2-car garage is currently leased separately. Outdoor amenities include a covered front porch, fenced backyard, and firepit. Located at 1024 Lipan Street in Denver’s Lincoln Park neighborhood, the duplex is near Auraria Campus, downtown Denver, the Santa Fe Arts District, restaurants, entertainment, and transit.
Key Highlights
- Two self‑contained 2‑bedroom units in an up‑and‑down duplex configuration
- 3,750‑square‑foot lot with U‑TU‑B zoning
- Detached oversized 2‑car garage, currently leased separately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,036
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,720
$560.7K
Cap Rate 7%
$400,514
$400.5K
Cap Rate 9%
$311,511
$311.5K
Market Conditions
NOI Build-Up for 1,687 SF
Gross rent
$42.5K $25.20/SF
− Vacancy
−$2.5K −$1.46/SF
EGI
$40.1K $23.74/SF
− OpEx
−$12.0K −$7.12/SF
NOI
$28.0K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,720
Cap Rate 7%
$400,514
Cap Rate 9%
$311,511
Alternative Uses
Best Use
Multifamily LT 5
$400.5K
$350.5K – $467.3K
NOI $28,036 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$365.9K
$320.2K – $426.9K
NOI $25,615 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$537.0K
$469.9K – $626.5K
NOI $37,592 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,546
Businesses Nearby
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Business Placement
Demographics for 80204, CO
35,269
Population
18,378
Households
1.9
Avg Household Size
33
Median Age
51%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$79,265
Median Household Income
$58,860
Median Earnings
$1,724
Median Rent
$579,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Denver, CO
Properties on Market for Duplexes in Denver
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences, updated kitchens and baths, private outdoor areas, and a detached garage support flexible occupancy.
Where is this duplex located?
The property is located at 1024 Lipan Street Denver, CO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two self‑contained 2‑bedroom units in an up‑and‑down duplex configuration; 3,750‑square‑foot lot with U‑TU‑B zoning; Detached oversized 2‑car garage, currently leased separately
