401 East 1st Avenue is a two‑unit brick property in Denver’s Speer neighborhood with documented features that support owner-occupancy or continued rental operation. Built in 1901 and converted to a duplex circa 1950, the building contains roughly 2,222 gross square feet across two stories with a partially finished basement. The conversion includes separate electrical meters and hot‑water heat, while cooling is served by an evaporative system. The site sits on approximately a 3,000 sq ft lot with off‑street parking estimated for two vehicles and street frontage on East 1st Avenue.
Floorplate and unit configuration support income stability: research records note Unit 101 at roughly 1,460 sq ft and Unit 201 at about 830 sq ft. Lease comp records from October 2024 show the first‑floor unit rented for $2,100/month and the second‑floor unit for $1,200/month; a consolidated rental estimate for the building is documented as approximately $3,300/month. The property is listed as tenant‑occupied in public records, so any buyer should account for tenancy and lease terms during due diligence.
Zoning and regulatory context are material to future plans. The lot is zoned U‑TU‑B2 (Two Unit B2 District) under City of Denver rules and falls within a Historic Structure Use Overlay District; permitted uses include duplexes and accessory dwelling units, but the overlay can limit exterior modifications. Ownership information shows a long tenure—owner of record since 1994—which may affect available historic paperwork or past permitting for the conversion.
Key next steps recommended by the audit are practical: confirm lot boundaries, verify that renovation permits were pulled when the building converted, check overlay restrictions for exterior work, obtain a professional home inspection, and assess roof condition. Construction details to verify on inspection include the brick construction, composition roofing, the state of the heating system and meters, and the partially finished basement. Proximity to downtown, parks, medical centers and retail enhances demand, but the property’s age and overlay status make thorough due diligence essential before pursuing upgrades or unit reconfiguration.