369 Works St Sheridan, WY 82801

This exceptional investment opportunity presents a 9-unit apartment building located at 369 E Works St, Sheridan, Wyoming, 82801. The property, built in 1920, boasts 4,860 square feet on a 6,200 square foot lot and is zoned R3. Currently operating at 100% occupancy, this two-story building offers a compelling net lease investment with a strong NOI of $48,781, resulting in a 7.00% cap rate. The asking price is $715,000, translating to $79,444.44 per unit and $147.12 per square foot. Recent improvements include a new roof, sewer line, exterior paint, and a beautiful new wrap-around porch. Several units have also undergone remodeling. The property generates a gross scheduled income of $73,200. Operating expenses, including property taxes ($3,279), insurance ($2,909), utilities ($8,465), and maintenance ($2,500), total $17,153. The property's prime location near downtown Sheridan offers significant potential for future growth and appreciation. This is a turnkey investment ideal for those seeking a stable, high-occupancy multifamily asset. Financial data provided is based on available information and should be independently verified. The sale is structured as a 1031 exchange.