Updated Nov 8, 2026
Christian Garner Of Avanti Residential Acquires 88-Unit Park Cheesman In Denver For $31M
1177 Race Street
$31,000,000
Units
88
Asset Type
MultiFamily
Closing
Nov 2, 2026
About this deal
AI
A multi-family asset located at 1177 Race Street in Denver, CO has been sold. This apartment property, known as Park Cheesman, consists of 88 units and was sold for a total of $31 million, translating to a price per unit of $352,273.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $31,000,000
- Units: 88
- Price Per Unit: $352,273
- Buyer: Christian Garner - Avanti Residential
- Broker: Walker & Dunlop
- Sale Date: 11/02/2026
- Address: 1177 Race Street, Denver, CO
Christian Garner from Avanti Residential has acquired the property, with Walker & Dunlop serving as the broker facilitating this transaction. The deal highlights the continued interest in multi-family properties within the Denver market.
On the Map
$31,000,000
MultiFamily
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Players
Rice MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $352.3K per unit across 88 units on a published $31M (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93