369 Works StSheridan, WY 82801

Property Details for 369 Works St

Year built

1920

Construction

FRAME

Lot size

0.14 AC

Property size (Sq ft)

3,840 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

03-5684-26-3-36-014-25

APU

356842633601425

Description

This exceptional investment opportunity presents a 9-unit apartment building located at 369 E Works St, Sheridan, Wyoming, 82801. The property, built in 1920, boasts 4,860 square feet on a 6,200 square foot lot and is zoned R3. Currently operating at 100% occupancy, this two-story building offers a compelling net lease investment with a strong NOI of $48,781, resulting in a 7.00% cap rate. The asking price is $715,000, translating to $79,444.44 per unit and $147.12 per square foot. Recent improvements include a new roof, sewer line, exterior paint, and a beautiful new wrap-around porch. Several units have also undergone remodeling. The property generates a gross scheduled income of $73,200. Operating expenses, including property taxes ($3,279), insurance ($2,909), utilities ($8,465), and maintenance ($2,500), total $17,153. The property's prime location near downtown Sheridan offers significant potential for future growth and appreciation. This is a turnkey investment ideal for those seeking a stable, high-occupancy multifamily asset. Financial data provided is based on available information and should be independently verified. The sale is structured as a 1031 exchange.

Location Insight

City

Sheridan

County

Sheridan

State

Wyoming

Latitude

44.7966

Longitude

-106.95

CBSA code

43260

CBSA name

SHERIDAN, WY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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