67-Unit Residential Condo
2401 Grandview Place Casper, WY 82601
For Sale
Contact for pricing
For sale 67-unit residential condo portfolio with in-place income and an indicated 8.3% cap rate.
Property Size71,676 SF
Price / SF$120.61
Days on Market84
Property Features for 2401 Grandview Place
General Information
Standard status
Active
Size
71,676 SF
Property subtype
Multifamily
Building Details
Year Built
1972
Listing Agency:
LB Group Real Estate
(307) 259-3631
Listed By:
Lisa Burridge · License #WY 1308
Source:
Crexi
Added: May 8
Changed: Jul 23
Last Checked: Jul 29 at 2:20PM
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 LB Group Real Estate
Investment Insights
Based on property information with market context.
Offered for sale is a 67-unit residential condo portfolio at 2401 Grandview Place, Casper, WY 82601. The offering is presented as producing strong in-place income with solid occupancy and established rental performance.
The seller also states an indicated 8.3% cap rate at current operations. The portfolio is structured as individual residential condos, which the offering notes may provide additional strategic flexibility, including the potential for future unit-by-unit disposition subject to market conditions and HOA guidelines.
The seller also states an indicated 8.3% cap rate at current operations. The portfolio is structured as individual residential condos, which the offering notes may provide additional strategic flexibility, including the potential for future unit-by-unit disposition subject to market conditions and HOA guidelines.
Key Highlights
- 67‑unit residential condo portfolio with in‑place income
- Indicated 8.3% cap rate at current operations
- Condo structure (unit‑by‑unit disposition potential, subject to HOA guidelines and market conditions)
Financial Insights For Apartment 5plus
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 | $1.06M | $14.76 |
| − Vacancy | −$44.4k | −$0.62 |
| EGI | $1.01M | $14.14 |
| − OpEx | −$456.1k | −$6.36 |
| NOI | $557.4k | $7.78 |
71,676 SF · lease $14.76/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.96M
$6.97M – $9.29M
NOI $557,427 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.00M
$14.00M – $18.67M
NOI $1,120,210 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - For sale 67-unit residential condo portfolio with in-place income and an indicated 8.3% cap rate.
Where is this apartment building located?
The property is located at 2401 Grandview Place Casper, WY.
What is the asking price?
The asking price for this property is $8,645,000.
What are key features of this property?
This property features: 67‑unit residential condo portfolio with in‑place income; Indicated 8.3% cap rate at current operations; Condo structure (unit‑by‑unit disposition potential, subject to HOA guidelines and market conditions)
