Four-Unit Apartment
For Sale
$620,000
402 Miller Ln #Bldg 8, Cheyenne, WY 82009
Four two-bedroom apartments include in-unit laundry, fireplaces, and off-street parking.
Property Size3,952 SF
Price / SF$156.88
Days on Market12
Property Features for 402 Miller Ln #Bldg 8
General Information
Standard status
Active
Size
3,952 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Amenities
washer and dryer
fireplace
off-street parking
Fire Place
Building Details
Building Size
3,952 SF
Year Built
1980
Stories
2
Units
4
Listing Agency:
Kuzma Success Realty
(307) 638-8660
Listed By:
Barbara Kuzma
(307) 630-1070
Source:
Frontierhomeandranch
Added: Oct 15
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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 Kuzma Success Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,952-square-foot apartment building contains four units, each configured with two bedrooms and one bathroom. Every apartment has a washer and dryer, a fireplace, and off-street parking. Two units have received recent updates, and the property has newer vinyl windows. Built in 1980, the building is fully rented.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,952‑square‑foot building, constructed in 1980
- Washer and dryer in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,155
Cap Rate
6.48%
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 6.48%
Second Best
Apartment 5plus
$517.6K
$452.9K – $603.9K
NOI $36,232 @ 7.0% cap · market cap 5.84%
Theoretical Best
Retail
$647.6K
$566.7K – $755.5K
NOI $45,332 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 82009, WY
35,700
Population
15,361
Households
2.3
Avg Household Size
44
Median Age
41%
College-Educated
96%
High-School Grad
1,277.8 sq mi
ZIP Area
28
Density / Sq Mi
$102,727
Median Household Income
$57,157
Median Earnings
$1,106
Median Rent
$415,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments include in-unit laundry, fireplaces, and off-street parking.
Where is this quadplex located?
The property is located at 402 Miller Ln #Bldg 8 Cheyenne, WY.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,952‑square‑foot building, constructed in 1980; Washer and dryer in each unit
