Denver, CO – June 9, 2025 – NorthPeak Commercial Advisors is pleased to announce the sale of 636 S Quitman St., Denver, CO 80219.
Dan Hawthorne of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“We were pleased to get this one across the finish line, representing both the buyer and seller in a smooth and successful transaction. The seller was able to achieve his goal of redeploying equity into a stronger-performing asset, while the buyer secured a property with strong upside potential. This deal required persistence and strategic positioning—over 15 tours and multiple offers were involved to bring it together.
The market continues to evolve rapidly, especially in the first half of this year. Sales like this one – closing North of a 6% CAP – are setting a new precedent for multifamily in Denver. With record-high inventory, declining rents, and rising market vacancy now above 10% in Denver specifically, buyers are more cautious and selective. It’s no secret that operating costs have increased across the board. Today, deals are still moving – but only when priced correctly.
As brokers, the real value we provide in this market isn’t just about price—it’s about strategy. In this case, while the seller may have preferred a higher exit, we focused on what matters long-term: repositioning into an asset that better aligns with their financial goals. These are the types of conversations that move the needle in a shifting market.”
-Dan Hawthorne, NorthPeak Commercial Advisors
For more information on this investment or current market conditions, please contact Dan Hawthorne at (406) 531-4246 or Dan@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 636 S Quitman St., Denver, CO 80219
- Sale Price: $1,125,000
- Close Date: June 9, 2025
- Total Units: 12 ($93,750/Unit)
- Property Size: 3,700 SF ($304/SF)
- Current Cap Rate: 6.16%
- Property Type: Multifamily
