Triplex with Attached
For Sale
$385,000
1008 E 23rd St, Cheyenne, WY 82001
Three residential units include a two-bedroom main-level home and two one-bedroom apartments.
Property Size2,630 SF
Price / SF$146.39
Days on Market123
Property Features for 1008 E 23rd St
General Information
Standard status
Active
Size
2,630 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR, 1 x 1BR/1BA
Multifamily Units
3
Amenities
common laundry room
Building Details
Year Built
1919
Listing Agency:
RE/MAX Capitol Properties
Listed By:
Allee Williamson · License #2647
(307) 635-0303
Source:
Cheyennehomesource
Added: Jun 17
Changed: Oct 1
Last Checked: Oct 16 at 9:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Capitol Properties
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Investment Insights
Based on property information with market context.
This 2,861-square-foot triplex, built in 1919, includes three residential units with distinct layouts. The main-level residence features two bedrooms, hardwood flooring, an updated bathroom, a kitchen with coffee bar, formal dining room, and a south-facing sunroom. A basement apartment provides one bedroom and access near the shared laundry area. The third unit includes one bedroom, one bathroom, and a one-car attached garage.
The property is located at 1008 E 23rd St in Cheyenne, across from Poder Academy and near a hospital and Warren Air Force Base. Existing occupants have expressed interest in remaining, while the property information also identifies potential for an owner-occupant arrangement or short-term rental use.
The property is located at 1008 E 23rd St in Cheyenne, across from Poder Academy and near a hospital and Warren Air Force Base. Existing occupants have expressed interest in remaining, while the property information also identifies potential for an owner-occupant arrangement or short-term rental use.
Key Highlights
- Three‑unit residential property totaling 2,861 SF
- Main‑level two‑bedroom residence with hardwood floors and south‑facing sunroom
- Basement apartment includes one bedroom and proximity to common laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,722
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,440
$534.4K
Cap Rate 7%
$381,743
$381.7K
Cap Rate 9%
$296,911
$296.9K
Market Conditions
NOI Build-Up for 2,630 SF
Gross rent
$40.4K $15.36/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$38.2K $14.52/SF
− OpEx
−$11.5K −$4.35/SF
NOI
$26.7K $10.16/SF
Area
Laramie County, WY
Vacancy
5.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,440
Cap Rate 7%
$381,743
Cap Rate 9%
$296,911
Alternative Uses
Best Use
Multifamily LT 5
$381.7K
$334.0K – $445.4K
NOI $26,722 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$344.5K
$301.4K – $401.9K
NOI $24,112 @ 7.0% cap · market cap 6.26%
Theoretical Best
Retail
$431.0K
$377.1K – $502.8K
NOI $30,168 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,259
Businesses Nearby
Explore this area
Business Placement
Demographics for 82001, WY
37,528
Population
17,977
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
95%
High-School Grad
55.1 sq mi
ZIP Area
681
Density / Sq Mi
$74,149
Median Household Income
$45,456
Median Earnings
$1,044
Median Rent
$291,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a two-bedroom main-level home and two one-bedroom apartments.
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: Three‑unit residential property totaling 2,861 SF; Main‑level two‑bedroom residence with hardwood floors and south‑facing sunroom; Basement apartment includes one bedroom and proximity to common laundry
