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Unique Properties Negotiates $30M Sale of Park Cheesman Apartments in Denver

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Located at 1177 Race St. in Denver, Park Cheesman Apartments features 88 units, two stories of parking and a rooftop deck.

DENVER — Unique Properties/TCN Worldwide has brokered the sale of Park Cheesman Apartments, a multifamily property in Denver. A Los Angeles-based multifamily office acquired the asset from an undisclosed seller, which owned the property for the last 42 years. This price was $30 million, or $340,909 per unit.

Located at 1177 Race St. adjacent to Cheesman Park, the property features 88 units with balconies, two stories of parking and a rooftop deck with views of the city. At the time of sale, Park Cheesman was 98 percent occupied.

Marc Lippitt and Justin Herman of Unique Properties/TCN Worldwide handled the transaction.

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