100 E 28th St - Apartments FOR SALE


Cheyenne, WY 82001
$389,900 USD
571-244-8938
100 E 28th St, Cheyenne, WY for Sale
$389,900 USD
Apartments - FOR SALE
1/44
null | 9.81% Cap Rate

100 E 28th St
Cheyenne, WY 82001


HIGHLIGHTS

  • Located in a pedestrian-friendly corridor with unobstructed views of the Capital Building.
  • Demonstrates a strong return profile with potential to significantly enhance rental yields over time.
  • Features multiple dwellings, including a detached garage converted to a private carriage house
  • Mixed-Use Business zoning supports versatile applications such as professional office or residential uses.
  • Current operations include a functioning short-term rental unit with growth potential.
  • Value-add strategy supported by the ability to renovate units sequentially while maintaining income streams.

OVERVIEW

This unique income property is a textbook value-add opportunity for a savvy investor ready to build a true cash cow. Located in a highly walkable district with direct views of the Capital Building, the property features a flexible multi-dwelling layout including a detached garage converted into a private carriage house and currently generates $3,100 a month with the main 3/2 unit owner occupied. One unit is a newly launched Airbnb with massive runway to optimize and increase rates, and the property already operates around a 9% Cap Rate when the owner-occupied unit is rented. Zoned Mixed-Use Business (MUB), the possibilities are endless for residential rentals, live/work spaces, or professional offices. This is the perfect chance to renovate one unit at a time, maximize market rents, and unlock massive upside in a prime location.

FOR SALE DETAILS

PRICE

$389,900 USD

PRICE/SF

$161 USD /SF

# OF UNITS

2

PRICE/UNIT

$194,950

CAP RATE

9.81%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

MUB

APN/PARCEL ID

1-1001-0016-0005-2

ASK ABOUT THIS PROPERTY

Mariah JefferyColdwell Banker - The Property Exchange, Inc.More Info
571-244-8938

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Mariah JefferyColdwell Banker - The Property Exchange, Inc.More Info
571-244-8938

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.