Lakewood, CO 80226
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Financial & Listing Details
Welcome to 490–492 S Owens—an exceptional investment opportunity offering both immediate cash flow and long-term development upside. This well-positioned duplex sits on an expansive 153 x 120 lot, providing a rare combination of current income and future potential in a rapidly evolving area. The property is currently configured as a duplex with strong in-place rents of $1,350 and $2,500 per month, delivering consistent income from day one. Each unit offers functional layouts with solid rental appeal, making this an ideal asset for investors looking to stabilize and hold, or reposition for increased returns. Whether you choose to lightly renovate and raise rents, or fully modernize the units to maximize value, the flexibility here is a major advantage. What truly sets this property apart is the lot size and development potential. With over 18,000 square feet of land, there is a compelling opportunity to explore subdividing the lot and constructing an additional duplex (buyer to verify with local zoning and planning authorities). This opens the door for a variety of strategies—from house hacking and expanding your portfolio, to a full-scale redevelopment project in a high-demand rental corridor. Located in a growing and increasingly desirable pocket of the metro area, this property benefits from strong rental demand, proximity to major commuter routes, and easy access to shopping, dining, and employment centers. The surrounding neighborhood continues to see revitalization and reinvestment, making this a strategic hold for appreciation as well as income. As development continues to push outward and infill opportunities become more scarce, parcels of this size with multi-unit potential are becoming harder to find. Whether you’re a seasoned investor, developer, or someone looking to secure a foothold in a high-growth area, 490–492 S Owens offers a unique blend of stability, scalability, and upside. No showings until under contract.
Elementary
Belmar
Middle
Creighton
High
Lakewood
*Source: RECO. Data may be incomplete. Contact local school district to confirm exact zoning.
On Market Since
April 14, 2026
Data Source
RECO #REC9954886
Listings courtesy of REColorado as distributed by MLS GRID.
Listing Updated
28 days ago
Roots Checked
28 days ago
Listed By
Hussein Garcia
3039082788
Keller Williams Realty Downtown LLC
Listings courtesy of REColorado as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of 3:30pm, 05/12/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Information provided is 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.
