10/20 Water StSheridan, WY 82801

This exceptional 2023-built, Class A, 8-unit apartment building presents a compelling investment opportunity in Sheridan, Wyoming. Located on a 12,000 square foot lot at 10/20 S Water St, 82801, this property boasts 9,120 square feet of net rentable space, currently enjoying 100% occupancy. The two-story building features eight spacious units, each commanding a price of $323,125. The property's prime location in Sheridan, adjacent to Little Goose Creek, offers residents a tranquil setting near downtown amenities. The asking price is $2,585,000, representing a compelling $283.44 per square foot. The current Net Operating Income (NOI) stands at $150,719, yielding a 6.41% cap rate. Pro-forma NOI is projected at $161,195, resulting in a 6.24% pro-forma cap rate. The property is zoned R3 and consists of two buildings. This turnkey investment offers immediate cash flow and significant upside potential in a thriving rental market. The property's modern design and high-quality construction ensure long-term value and tenant satisfaction. This is a rare opportunity to acquire a meticulously maintained, high-performing multifamily asset in a desirable Wyoming location. The property is offered for sale by owner.