Four-Unit Apartment
For Sale
$749,900
1231 Taft Ave, Cheyenne, WY 82001
Well-maintained quadplex with consistent three-bedroom layouts, private utility metering, fireplaces, and dedicated off-street parking.
Property Size3,952 SF
Price / SF$189.75
Days on Market268
Property Features for 1231 Taft Ave
General Information
Standard status
Active
Size
3,952 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Amenities
gas fireplaces
washer/dryer
landscaped yard areas
separately metered
Building Details
Year Built
2004
Buildings
1
Construction
2X6 construction
Listing Agency:
RE/MAX Capitol Properties
Listed By:
Steven Prescott
(307) 635-0303
Source:
Cheyennehomesource
Added: Jan 18
Changed: Oct 1
Last Checked: Oct 12 at 8:27PM
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
Investment Insights
Based on property information with market context.
Built in 2004, this 3,952-square-foot quadplex contains four apartments, each offering three bedrooms and two bathrooms. The units include appliances, washers and dryers, gas fireplaces, and 2X6 construction. Landscaped yard areas and off-street parking serve the building, while separate utility metering supports individual unit operations.
The property is located at 1231 Taft Ave in Cheyenne, WY 82001, with schools and parks nearby. HOA services cover lawn care, snow removal, exterior building maintenance, building insurance, and liability insurance.
The property is located at 1231 Taft Ave in Cheyenne, WY 82001, with schools and parks nearby. HOA services cover lawn care, snow removal, exterior building maintenance, building insurance, and liability insurance.
Key Highlights
- Four units, each with 3 bedrooms and 2 bathrooms
- 3,952 SF quadplex built in 2004
- 2X6 construction with gas fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,155
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,100
$803.1K
Cap Rate 7%
$573,643
$573.6K
Cap Rate 9%
$446,167
$446.2K
Market Conditions
NOI Build-Up for 3,952 SF
Gross rent
$60.7K $15.36/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$57.4K $14.52/SF
− OpEx
−$17.2K −$4.35/SF
NOI
$40.2K $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%
$803,100
Cap Rate 7%
$573,643
Cap Rate 9%
$446,167
Alternative Uses
Best Use
Multifamily LT 5
$573.6K
$501.9K – $669.3K
NOI $40,155 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$517.6K
$452.9K – $603.9K
NOI $36,232 @ 7.0% cap · market cap 4.83%
Theoretical Best
Retail
$647.6K
$566.7K – $755.5K
NOI $45,332 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
242
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained quadplex with consistent three-bedroom layouts, private utility metering, fireplaces, and dedicated off-street parking.
Where is this quadplex located?
The property is located at 1231 Taft Ave Cheyenne, WY.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Four units, each with 3 bedrooms and 2 bathrooms; 3,952 SF quadplex built in 2004; 2X6 construction with gas fireplaces
