Yes. One way to see it is to do the long division; i.e., divide the denominator directly into the numerator. The numerator is $1 + \Theta(\frac{1}{2n}) = 1 + \Theta(\frac{1}{n})$, and the denominator is $\left(1 + \Theta(\frac{1}{n})\right)^2 = 1 + \Theta(\frac{1}{n}) + \Theta(\frac{1}{n^2}) = 1 + \Theta(\frac{1}{n})$. I'm not going to attempt to typeset the long division on this forum, but try it, and you'll see that you get $1$ with a remainder of $O(\frac{1}{n})$. So you have
$\frac {1 + \Theta(\frac{1}{2n})} {\left(1 + \Theta(\frac{1}{n})\right)^2} = \frac{1 + \Theta(\frac{1}{n})}{1 + \Theta(\frac{1}{n})} = 1 + \frac{O(\frac{1}{n})}{1 + \Theta(\frac{1}{n})} = 1 + O\left(\frac{1}{n}\right),$ since the denominator is $O(1)$.
(Remember that $\Theta(\frac{1}{2n}) = \Theta(\frac{1}{n})$, since the constant $\frac{1}{2}$ doesn't affect the asymptotic order.)