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404 10th St 5Plex 404 10th St 5 Unit Apartment Building $400,000 ($80,000/Unit) 8.55% Cap Rate Wheatland, WY 82201
Investment Highlights
- Pro-forma Cap Rate of 8.55%
- Recent renovations and upside potential
- Seller carry offered at 5% interest rate/25% down
Executive Summary
This 5 plex currently has 3 out of 5 units rented at $1,500/mo, $800/mo and $700/mo. There is a large garage with 5 separate units that is currently being used by the owner for storage. This offers additional income opportunity for the new owner to lease these units and raise the rent. Seller *may* carry at a minimum of 25% down (non-negotiable) and 5% interest rate with a 5 year balloon (max).
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$56,400
|
$15.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,948
|
$1.07
|
| Effective Gross Income |
$52,452
|
$14.16
|
| Taxes |
$1,494
|
$0.40
|
| Operating Expenses |
$16,749
|
$4.52
|
| Total Expenses |
$18,243
|
$4.93
|
| Net Operating Income |
$34,209
|
$9.24
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $56,400 |
| Annual Per SF | $15.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,948 |
| Annual Per SF | $1.07 |
| Effective Gross Income | |
|---|---|
| Annual | $52,452 |
| Annual Per SF | $14.16 |
| Taxes | |
|---|---|
| Annual | $1,494 |
| Annual Per SF | $0.40 |
| Operating Expenses | |
|---|---|
| Annual | $16,749 |
| Annual Per SF | $4.52 |
| Total Expenses | |
|---|---|
| Annual | $18,243 |
| Annual Per SF | $4.93 |
| Net Operating Income | |
|---|---|
| Annual | $34,209 |
| Annual Per SF | $9.24 |
Property Facts
| Price | $400,000 | Building Class | C |
| Price Per Unit | $80,000 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 3,704 SF |
| Cap Rate | 8.55% | Average Occupancy | 20% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1944/2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | Residential - Residential | ||
| Price | $400,000 |
| Price Per Unit | $80,000 |
| Sale Type | Investment |
| Cap Rate | 8.55% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 3,704 SF |
| Average Occupancy | 20% |
| No. Stories | 1 |
| Year Built/Renovated | 1944/2024 |
| Opportunity Zone |
Yes |
| Zoning | Residential - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $1,500 | - |
| 1+1 | 4 | $700.00 | - |
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Property Taxes
| Parcel Number | R0002910 | Total Assessment | $20,462 |
| Land Assessment | $2,568 | Annual Taxes | $1,494 ($0.40/SF) |
| Improvements Assessment | $17,894 | Tax Year | 2025 |
Property Taxes
Parcel Number
R0002910
Land Assessment
$2,568
Improvements Assessment
$17,894
Total Assessment
$20,462
Annual Taxes
$1,494 ($0.40/SF)
Tax Year
2025
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404 10th St 5Plex | 404 10th St
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