Current Use by Public Records
- Chrysalis Manor / Apartment Building
Property Details for 813 Loucks St
- Year built
- 1905
- Property type
- Apartment buildings
Description
This charming 7-unit apartment building, nestled near Kendrick Park in Sheridan, Wyoming, presents a unique value-add investment opportunity. Built in 1905 and extensively renovated in 2020, the property boasts 4,699 square feet across two buildings and two stories. It features eight parking spaces and sits on a 14,621 square foot lot. Currently operating as a mix of long-term and short-term rentals, the property has a proven track record and established clientele. The permitted zoning allows for both short and long-term use, making it ideal for expansion into a boutique hotel or extended-stay facility. Its prime location offers easy walking access to downtown Sheridan, parks, and local amenities. The property's historic charm and proximity to attractions make it perfectly positioned to capitalize on the growing tourism industry in the area. With seven existing units and the potential for an eighth, this property offers significant upside potential for an investor looking to maximize rental income. The recent renovations ensure the property is in excellent condition, minimizing immediate capital expenditures. This is a rare opportunity to acquire a well-established, high-potential property in a thriving Wyoming community. The asking price is $1,799,000, with a price per square foot of $383.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sheridan
- County
- Sheridan
- State
- Wyoming
- Longitude
- -106.968
- Latitude
- 44.7976
