115 West Cheyenne Road LLC, a Colorado Springs-based private investor, purchased the 107-unit, 105,962-square-foot Cheyenne Creek Apartments in Colorado Springs, CO. The purchase price was $9.15 million, or $85,514 per unit, the highest price received in the market for a multifamily property constructed in the late 1980's. Located at 115 West Cheyenne Road. Cheyenne Creek Apartments was built in 1988 and sits on a 4.4-acre lot. The property's unit mix consists of large floor plans with 34 one-bedroom/one-bath with den units and 73 two-bedroom/two-bath units. Apartment sizes range from 875 to 1,044 square feet. Rental rates currently range from $525 to $880 per month. Community amenities include a swimming pool and community center. It is also conveniently located near the Broadmoore Hotel. At the time of the sale, the property was 91% occupied. David Potarf and Daniel Woodward of Marcus & Millichap represented both 115 W. Cheyenne Road LLC as well as the seller, BP Cheyenne Creek Apts. LLC, an Englewood, CO-based apartment investor.