For Sale Commercial MLS# 5637784

980 S Dexter Street

Denver, CO 80246

$4,500,000

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About 980 S Dexter Street

Apex 980 is a 30-unit multifamily community across two adjoining parcels at 980 and the vacant 970 S. Dexter Street, both zoned MX-8 with potential for development. The seller offers the parcels and existing building as a single opportunity. Built in 1974 and improved with ongoing updates over the course of ownership, the property is distinguished by a furnished and flexible-term leasing model. Roughly two-thirds of units include furniture, utilities, and/or parking bundled into base rent, which has allowed ownership to achieve premium in-place rents relative to a traditional unfurnished workforce product. The property serves a resilient tenant base of relocating professionals, traveling workers, and mid-term renters. Current signed rent roll ($35,248/month base rent) has climbed steadily through 2026 (from $28,123/month in January), reflecting in-place mark-to-market upside progressively captured through re-leasing. Unified two-parcel assemblage provides dedicated parking/site infrastructure on the 970 parcel and clean ownership history, uncommon for a 30-unit asset in this location. Beyond its in-place income, Apex 980's assemblage offers a buyer potential optionality on the 970 S. Dexter parcel, which today provides surface parking and site infrastructure rather than income-producing improvements. In 2024, the City and County of Denver adopted a proactive rezoning. That rezoning introduced a series of Suburban Mixed Use zone districts along major corridors, and Denver's citywide parking reform has also eliminated minimum off-street parking requirements in many mixed-use districts.

Property details

Property

Type
Multi Family
MLS type
Commercial Sale
Status
Active
Year built
1974
MLS #
5637784

Utilities

Sewer
Public Sewer

Financial

Annual tax
$22,340
Parcel
6183-03-015

Location

County
Denver

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Listed by Andrew Hawk, Folsom & Company Real Estate, Llc

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