Tri-Plex Residential Income
1008 E 23RD ST Cheyenne, WY 82001
1008 E 23RD ST, Cheyenne, WY, 82001
$385,000
For Sale
$385,000
MULTI_FAMILY - Cheyenne, WY
Property Size2,861 SF
Lot Size0.13 Acres
Price / SF$134.57
Days on Market12
Property Features for 1008 E 23RD ST
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bathroom 2
- Patio and Porch features
- Deck
- Interior features
- Cable Access, Window Covering
- Exterior features
- Deck, Fence, Landscaped, Storage
- Fencing
- Fenced
- Appliances
- Range/Oven, Refrigerator
- Standard status
- Active
- Size
- 2,861 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- East 5' Lot 5, West 38' Lot 6, Block 180
- Tax Annual Amount
- 1683
Utilities
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1919
- Number of units
- 3
- Building materials
- Frame
- Roof type
- Composition
- Additional Structures
- Storage
Listing agency
RE/MAX Capitol Properties
(307) 635-0303
Listed by
Allee Williamson
(307) 631-1654
Added: Jul 10 Updated: Jul 15 at 4:38PM Checked: Jul 21 at 10:06PM
MLS# 101382
Copyright © 2026 Cheyenne Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This tri-plex residential income property includes three separate units. The main level features a two-bedroom unit with hardwood floors, an updated bathroom, and a kitchen with a coffee bar and formal dining room, along with a sunroom with south-facing windows. The basement unit is a one-bedroom apartment located near the common laundry area. The third unit is a one-bedroom, one-bath unit that also includes a one-car attached garage.
Located at 1008 E 23rd St in Cheyenne, the property is described as being centrally located, across the street from Poder Academy, and close to a hospital and Warren Air Force Base.
With multiple units under one roof, the layout supports a variety of owner-occupant and investor configurations based on how the units are occupied.
Located at 1008 E 23rd St in Cheyenne, the property is described as being centrally located, across the street from Poder Academy, and close to a hospital and Warren Air Force Base.
With multiple units under one roof, the layout supports a variety of owner-occupant and investor configurations based on how the units are occupied.
Key Highlights
- 1919‑built frame tri‑plex with 3 separate units in Cheyenne
- Unit 1 offers 2 bedrooms and 1 bathroom on the main level with hardwood floors and an updated bathroom
- Unit 2 is a basement 1‑bedroom apartment positioned just outside the common laundry room
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.9k | $15.36 |
| − Vacancy | −$2.4k | −$0.84 |
| EGI | $41.5k | $14.52 |
| − OpEx | −$12.5k | −$4.35 |
| NOI | $29.1k | $10.16 |
2,861 SF · lease $15.36/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$415.3K
$363.4K – $484.5K
NOI $29,070 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$374.7K
$327.9K – $437.2K
NOI $26,230 @ 7.0% cap · market cap 6.81%
Theoretical Best
Retail
$468.8K
$410.2K – $547.0K
NOI $32,817 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Tri-plex with three rental units, including a main-level two-bedroom and a basement one-bedroom.
Where is this triplex located?
The property is located at 1008 E 23RD ST Cheyenne, WY.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1919‑built frame tri‑plex with 3 separate units in Cheyenne; Unit 1 offers 2 bedrooms and 1 bathroom on the main level with hardwood floors and an updated bathroom; Unit 2 is a basement 1‑bedroom apartment positioned just outside the common laundry room
