Fourplex Residential Income
1216 TAFT AVE Cheyenne, WY 82007
1216 TAFT AVE, Cheyenne, WY, 82007
$649,000
For Sale
$649,000
MULTI_FAMILY - Cheyenne, WY
Property Size3,632 SF
Lot Size0.25 Acres
Price / SF$178.69
Days on Market129
Property Features for 1216 TAFT AVE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 8, Bedroom 3, Bedroom 7, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 1
- Patio and Porch features
- Deck, Patio
- Interior features
- Carpeted
- Exterior features
- Deck, Patio, Lawn Sprinklers
- Appliances
- Dishwasher, Disposal, Microwave, Range/Oven, Refrigerator
- Standard status
- Active
- Size
- 3,632 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Taft Avenue Apartments: Lot 4 Block 1
- Tax Annual Amount
- 3605
Utilities
- Heating system
- Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 2004
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
#1 Properties
(307) 634-2222
6106 Yellowstone Rd, Cheyenne, WY
Listed by
Allison Bailey
(307) 640-9222
Added: Mar 15 Updated: Jul 13 at 11:32 pm Checked: Jul 21 at 1:06 am
MLS# 100176
Listing URL
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 fourplex includes four residential units configured as two bedrooms and one bathroom each. The property provides individual laundry within each unit, which can simplify day-to-day occupancy needs. Off-street parking is also available for residents.
The building is located at 1216 Taft Ave in Cheyenne, Wyoming. The lot size is identified as 0.25 acres, and the total property size is listed as 3,632 square feet.
For buyers seeking a small multifamily income property, this configuration offers a consistent unit mix across all four units. The listing also states the property is fully rented, providing an existing occupied profile at the time of sale. Off-street parking and in-unit laundry can support tenant usability for a two-bedroom, one-bath household setup.
The building is located at 1216 Taft Ave in Cheyenne, Wyoming. The lot size is identified as 0.25 acres, and the total property size is listed as 3,632 square feet.
For buyers seeking a small multifamily income property, this configuration offers a consistent unit mix across all four units. The listing also states the property is fully rented, providing an existing occupied profile at the time of sale. Off-street parking and in-unit laundry can support tenant usability for a two-bedroom, one-bath household setup.
Key Highlights
- Four‑plex property built in 2004
- Fully rented with two‑bedroom, one‑bath units and individual laundry in each unit
- Brick construction with a composition roof
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 | $55.8k | $15.36 |
| − Vacancy | −$3.1k | −$0.84 |
| EGI | $52.7k | $14.52 |
| − OpEx | −$15.8k | −$4.35 |
| NOI | $36.9k | $10.16 |
3,632 SF · lease $15.36/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$527.2K
$461.3K – $615.1K
NOI $36,903 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$475.7K
$416.2K – $555.0K
NOI $33,298 @ 7.0% cap · market cap 5.13%
Theoretical Best
Retail
$595.2K
$520.8K – $694.4K
NOI $41,661 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four rented two-bedroom, one-bath units with individual laundry and off-street parking.
Where is this quadplex located?
The property is located at 1216 TAFT AVE Cheyenne, WY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Four‑plex property built in 2004; Fully rented with two‑bedroom, one‑bath units and individual laundry in each unit; Brick construction with a composition roof
