Updated Quadplex with Detached
New
For Sale
$529,000
1815 Lilac Ct, Cheyenne, WY 82001
Four occupied apartments feature a mix of one- and three-bedroom layouts on a sizable parcel.
Property Size3,870 SF
Lot Size0.63 Acres
Price / SF$136.69
Days on Market3
Property Features for 1815 Lilac Ct
General Information
Standard status
Active
Size
3,870 SF
Lot size
0.63 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
4
Building Details
Year Built
1917
Buildings
1
Listing Agency:
#1 Properties
Listed By:
Teri Cassidy · License #1712
(404) 783-5555
Source:
Karihappoldrealestate
Added: Oct 11
Last Checked: Oct 11 at 2:39PM
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 #1 Properties
Investment Insights
Based on property information with market context.
The 3,870-square-foot quadplex contains four apartments: two with one bedroom and one bathroom each, one with three bedrooms and one bathroom, and one with three bedrooms and two bathrooms. Improvements include a 2026 roof, steel siding, LVP flooring throughout, and kitchen and bathroom updates. A detached garage accommodates more than two cars, and tenants have long-term occupancy.
Key Highlights
- Four apartments with a 1‑bedroom/1‑bath, 1‑bedroom/1‑bath, 3‑bedroom/1‑bath, and 3‑bedroom/2‑bath mix
- 0.63‑acre parcel
- 3,870‑square‑foot building constructed in 1917
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,322
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,440
$786.4K
Cap Rate 7%
$561,743
$561.7K
Cap Rate 9%
$436,911
$436.9K
Market Conditions
NOI Build-Up for 3,870 SF
Gross rent
$59.4K $15.36/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$56.2K $14.52/SF
− OpEx
−$16.9K −$4.35/SF
NOI
$39.3K $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%
$786,440
Cap Rate 7%
$561,743
Cap Rate 9%
$436,911
Alternative Uses
Best Use
Multifamily LT 5
$561.7K
$491.5K – $655.4K
NOI $39,322 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$506.9K
$443.5K – $591.3K
NOI $35,480 @ 7.0% cap · market cap 6.71%
Theoretical Best
Retail
$634.2K
$554.9K – $739.9K
NOI $44,391 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
637
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments feature a mix of one- and three-bedroom layouts on a sizable parcel.
Where is this quadplex located?
The property is located at 1815 Lilac Ct Cheyenne, WY.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Four apartments with a 1‑bedroom/1‑bath, 1‑bedroom/1‑bath, 3‑bedroom/1‑bath, and 3‑bedroom/2‑bath mix; 0.63‑acre parcel; 3,870‑square‑foot building constructed in 1917
