1537 N Pearl Street
Six-unit multifamily building in Denver's Capitol Hill, offered at $955,000 at an 8.00% cap rate ($76,365 NOI). Recently price-reduced from $1,055,000, the property delivers strong current cash flow with a 9.6% cash-on-cash return and pro-forma upside to 10.3%. The brick walk-up, built in 1900, sits in one of Denver's most walkable and transit-rich neighborhoods, just blocks from downtown and anchored by Cheesman Park and City Park.
The unit mix spans one studio (400 SF), three one-bedroom/one-bath units (650 SF each), one two-bedroom/one-bath (750 SF), and one three-bedroom/one-bath (900 SF), totaling 4,031 SF across two stories on a 4,690 SF lot. Current rents range from $1,050 to $1,863 per month, with pro-forma rents showing modest upside. Two income-producing garages and two off-street parking spaces provide a secondary revenue stream in a neighborhood where parking commands a premium. On-site laundry and tenant storage complete the amenity package.
Located at the edge of Capitol Hill, the property benefits from exceptional walkability (Walk Score 97), excellent transit access (Transit Score 76), and bike-friendly infrastructure (Bike Score 97). The neighborhood is Denver's most densely populated, home to a mix of modern high-rises and historic walk-ups, with vibrant dining, bars, and cultural attractions including the Colorado State Capitol, Civic Center Park, and the Molly Brown House Museum. Zoned C-MX-8 with a pitched brick roof, the building is well-maintained and positioned to capture consistent rental demand in a high-barrier-to-entry market.
- Price reduced 8% to $955,000; 8.00% current cap rate, 8.2% pro-forma
- 9.6% current cash-on-cash return; 10.3% pro-forma with modest rent growth
- Two income-producing garages plus two off-street spaces in parking-premium neighborhood
- Walk Score 97, Transit Score 76, Bike Score 97; blocks from downtown and Cheesman Park
- Historic 1900 brick building, 6 units, $159,167 per unit; strong comparable sales support
More property details
Features & amenities
Location
1537 N Pearl St. is a premier investment opportunity situated at the edge of Denver's highly desirable Capitol Hill neighborhood. Ideally located just blocks from downtown and the vibrant Colfax and Uptown corridors, this property benefits from a high-density area with consistent rental demand and exceptional walkability. Its location in one of Denver's most historic and sought-after districts ensures long-term appreciation and a steady stream of prospective tenants.
- Capitol Hill neighborhood;
- blocks from downtown;
- near Colfax and Uptown corridors;
- Walk Score 97;
- Transit Score 76;
- Bike Score 97;
- near Cheesman Park and City Park
Additional details
This confidential Offering Memorandum has been prepared by NorthPeak Commercial Advisors, LLC for use by a limited number of qualified parties. NorthPeak Commercial Advisors recommends independent examination and inspection of the property. By accepting this Offering Memorandum, you acknowledge that you shall rely solely upon your own examination and investigation of the Property and not on any statements made in this Offering Memorandum. NorthPeak Commercial Advisors makes no guarantee, warranty, or representation about the completeness or accuracy of the information set forth herein.
This Offering Memorandum and its contents are intended to remain confidential. By accepting this Offering Memorandum, you agree that you will hold it in the strictest confidence, that you will not photocopy, duplicate, or distribute it without prior written authorization of NorthPeak Commercial Advisors.
Denver's Capitol Hill is a centrally located neighborhood that offers a vibrant mix of Colorado history, architectural charm, parks, bars, and restaurants. Cap Hill is Denver's most densely populated neighborhood and is home to many apartment buildings, from modern 11-story high rises to quaint older walk-ups.
- Colorado State Capitol with Mile High marker
- Civic Center Park (live music and food trucks)
- Molly Brown House Museum
- Cheesman Park
- City Park