807 E 3rd St, Cheyenne, WY 82007

Property Description

Rare opportunity with serious upside potential! This fully renovated 1-bedroom, 1-bath home sits on an oversized 0.29-acre lot within city limits and could be an excellent fit for a first-time home buyer or an investor seeking strong cash flow and future development possibilities. The home has been updated throughout and features beautiful LVP flooring, modern finishes, and a stylish stand-in shower. It has consistently generated $1,200+ per month in rental income. In addition, the impressive 46x26 shop has its own separate meter and has produced $800+ per month, bringing the total to $2,000+ in monthly rental income from one purchase. What truly sets this property apart is that it carries four separate addresses, presenting a rare value-add opportunity. With city compliance and approval, there is potential to convert or further develop the property into a fourplex, significantly increasing long-term cash flow and overall value. Conveniently located close to downtown and within walking distance to Hebard Elementary School, this property also offers RV parking and plenty of space rarely found on in-town lots. Flexible, updated, income-producing, and full of opportunity, all on a large in-town lot in a desirable location.