Two-Story
For Sale
Contact for pricing
709 W SECOND ST, Cheyenne, WY 82007
Unfurnished apartment units with tenant-paid gas and electricity.
Property Size3,572 SF
Price / SF$201.57
Days on Market58
Property Features for 709 W SECOND ST
General Information
Standard status
Active
Size
3,572 SF
Class
B
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
MR
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$32,216
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Furnished
No
Building Details
Year Built
2008
Year Renovated
2025
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Coldwell Banker | The Property Exchange
Listed By:
Chuck West · License #WY 12852
(307) 331-9636
Source:
Crexi
Added: Aug 21
Changed: Oct 8
Last Checked: Oct 16 at 7:24AM
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 Coldwell Banker | The Property Exchange
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Investment Insights
Based on property information with market context.
This 2008-built quadplex at 709 W Second St in Cheyenne contains four apartment units within a two-story building. The property provides 3,572 square feet of residential space, with each unit described as having two bedrooms and 1.5 bathrooms. Units are offered unfurnished, and tenants are responsible for gas and electric service.
The property is zoned MR and is professionally managed by Crown Realty in Cheyenne. Its four-unit configuration provides a straightforward multifamily layout for residential income ownership.
The property is zoned MR and is professionally managed by Crown Realty in Cheyenne. Its four-unit configuration provides a straightforward multifamily layout for residential income ownership.
Key Highlights
- Four‑unit multifamily property at 709 W Second St, Cheyenne, WY
- 3,572 SF two‑story building completed in 2008
- Each apartment is described as having 2 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,294
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,880
$725.9K
Cap Rate 7%
$518,486
$518.5K
Cap Rate 9%
$403,267
$403.3K
Market Conditions
NOI Build-Up for 3,572 SF
Gross rent
$54.9K $15.36/SF
− Vacancy
−$3.0K −$0.84/SF
EGI
$51.8K $14.52/SF
− OpEx
−$15.6K −$4.35/SF
NOI
$36.3K $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%
$725,880
Cap Rate 7%
$518,486
Cap Rate 9%
$403,267
Alternative Uses
Best Use
Multifamily LT 5
$518.5K
$453.7K – $604.9K
NOI $36,294 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$467.8K
$409.4K – $545.8K
NOI $32,748 @ 7.0% cap · market cap 4.55%
Theoretical Best
Retail
$585.3K
$512.2K – $682.9K
NOI $40,973 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 82007, WY
21,249
Population
9,542
Households
2.2
Avg Household Size
35
Median Age
16%
College-Educated
89%
High-School Grad
193.8 sq mi
ZIP Area
110
Density / Sq Mi
$55,461
Median Household Income
$35,537
Median Earnings
$1,120
Median Rent
$218,400
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
Frequently Asked Questions
What type of property is this?
Quadplex - Unfurnished apartment units with tenant-paid gas and electricity.
Where is this quadplex located?
The property is located at 709 W SECOND ST Cheyenne, WY.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 709 W Second St, Cheyenne, WY; 3,572 SF two‑story building completed in 2008; Each apartment is described as having 2 bedrooms and 1.5 bathrooms
