This exceptional investment opportunity presents a 9-unit apartment building situated on a sprawling 21,344-square-foot lot in Buffalo, Wyoming (82834). The property boasts a total of 9,000 square feet and features a mix of unit sizes, including a spacious 2,300-square-foot main apartment. Additional income is generated from nine separate storage units, six measuring 10x10 feet, two at 10x30 feet, and one at 10x5 feet. The building, constructed in 1954, is comprised of concrete block and stucco exterior with a flat roof. Heating is provided by a combination of baseboard, electric, and forced-air gas systems, while cooling is achieved through wall units and an attic fan. The property includes four off-street parking spaces. The building is connected to city water and sewer. Annual expenses total $21,300, including electricity ($8,000), gas ($2,000), insurance ($4,000), miscellaneous ($1,000), supplies ($1,500), trash ($800), and water ($4,000). The property generates an annual income of $66,000, resulting in a net operating income (NOI) of $44,700. The asking price is $650,000, translating to $72.22 per square foot and $72,222.22 per unit. The property is zoned B1 and is located within the Mtn Drive subdivision. Individual unit sizes and rents vary, ranging from 350 square feet at $400 per month to the 2300 square foot unit at $1000 per month. This property offers significant potential for a strong return on investment.
Multifamily property - 9-Unit Apartment Building, High NOI
Where is this multifamily property located?
The property is located at 845 Fort St Buffalo, WY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Multi-family property (10 units).; 4+ unit multi-family building.; Currently listed for sale.
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845 Fort St Buffalo, WY 82834
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Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
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Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
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Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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845 Fort St Buffalo, WY 82834
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845 Fort St, Buffalo, WY
Shon Schroefel
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845 Fort St, Buffalo, WY
Shon Schroefel
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845 Fort St, Buffalo, WY
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845 Fort St, Buffalo, WY
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