815 E Ivinson Ave
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815 E Ivinson Ave
8 Unit Apartment Building $1,300,000 ($162,500/Unit) 5.58% Cap Rate Laramie, WY 82070
Executive Summary
Discover a rare investment opportunity in the heart of Laramie, Wyoming, at 815 Ivinson Avenue. This historic property seamlessly blends classic charm with modern functionality, offering a unique income-generating potential. The building features a total of eight well-maintained units: four 2-bedroom units and four 3-bedroom units, catering to a variety of tenants. Each unit is thoughtfully designed with spacious layouts, large windows that invite abundant natural light.
Situated just blocks from the University of Wyoming and downtown Laramie. Residents will appreciate the convenience of nearby shops, dining, and entertainment, while outdoor enthusiasts will enjoy easy access to local parks and trails. Whether you're looking to expand your real estate portfolio or step into property management, this versatile property is an exceptional choice. Don’t miss your chance to own a piece of Laramie’s history while reaping the rewards of a smart investment. Contact us today to learn more or schedule a showing. The co-owner of this property is a licensed real estate agent in Wyoming.
Situated just blocks from the University of Wyoming and downtown Laramie. Residents will appreciate the convenience of nearby shops, dining, and entertainment, while outdoor enthusiasts will enjoy easy access to local parks and trails. Whether you're looking to expand your real estate portfolio or step into property management, this versatile property is an exceptional choice. Don’t miss your chance to own a piece of Laramie’s history while reaping the rewards of a smart investment. Contact us today to learn more or schedule a showing. The co-owner of this property is a licensed real estate agent in Wyoming.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$82,830
|
$11.86
|
| Other Income |
$3,451
|
$0.49
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,281
|
$12.35
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$13,744
|
$1.97
|
| Net Operating Income |
$72,537
|
$10.39
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $82,830 |
| Annual Per SF | $11.86 |
| Other Income | |
|---|---|
| Annual | $3,451 |
| Annual Per SF | $0.49 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $86,281 |
| Annual Per SF | $12.35 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $13,744 |
| Annual Per SF | $1.97 |
| Net Operating Income | |
|---|---|
| Annual | $72,537 |
| Annual Per SF | $10.39 |
Property Facts Under Contract
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $162,500 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 6,984 SF |
| Cap Rate | 5.58% | Average Occupancy | 100% |
| Sale Conditions | 1031 Exchange | No. Stories | 2 |
| No. Units | 8 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 1.15/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $1,300,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 5.58% |
| Sale Conditions | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,984 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.15/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $820.00 | - |
| 3+1 | 4 | $980.00 | - |
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Walk Score®
Very Walkable (77)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 05-1673-33-4-02-001.00 | Improvements Assessment | $65,807 (2024) |
| Land Assessment | $4,138 (2024) | Total Assessment | $69,945 (2024) |
PROPERTY TAXES
Parcel Number
05-1673-33-4-02-001.00
Land Assessment
$4,138 (2024)
Improvements Assessment
$65,807 (2024)
Total Assessment
$69,945 (2024)
zoning
| Zoning Code | R3 |
| R3 |
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815 E Ivinson Ave
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