369 Works St Sheridan, WY 82801-4337
- Apartment buildings
- 3,840 SF
- 0.14 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 369 Works St
- Year built
- 1920
- Construction
- FRAME
- Lot size
- 0.14 lot acres
- Property size
- 3,840 SF
- Property type
- 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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sheridan
- County
- Sheridan
- State
- Wyoming
- Longitude
- -106.95
- Latitude
- 44.7966
- CBSA code
- 43260
- CBSA name
- SHERIDAN, WY MICROPOLITAN STATISTICAL AREA
