Rock Springs Apartments
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Rock Springs Apartments
Rock Springs , WY
Available
- Property Type: Apartments
- Year Built : 1975
- Property Size: 257,040 SF / 336 Units
Overview
Capstone Companies is pleased to offer the Rock Springs Apartments. This rare opportunity gives a buyer the ability to own 336 residential units, 87 storage units and approximately 500 dedicated parking spaces spread out over a huge 19.88 acre campus. The campus contains 9 multi-family apartment buildings and 4 storage/utility buildings.
This value-add property is located in an energy rich region of Southwest Wyoming and lies within a Qualified Opportunity Zone. A buyer will have the chance to renovate interiors, raise rents to market rates and increase occupancy which could result in double digit cap rates within a short
amount of time.
Of the 5 multi-family properties in Rock Springs over 100 units, this property is the largest, making the Rock Springs Apartments a special investment opportunity.
Property Tours: Tuesday, March 30th & Wednesday March 31st
Call for offers deadline: Thursday, April 15th
OFFER SUBMISSION
Offers should be presented in the form of a non-binding Letter of Intent, spelling out all significant terms and conditions of Purchaser’s offer including, but not limited to, (1) asset pricing, (2) due diligence and closing timeframe, (3) deal structure and each party’s rights and responsibilities (as applicable), (4) earnest money deposit, and to include (5) a resume of previous multi-family ownership experience, as well as (6) qualifications to close, and (7) details of debt and equity financing.
Investment Highlights
- Solid brick buildings with unit type diversity.
- Value-add opportunity to unlock double digit cap rate through unit renovations.
- Onsite laundry rooms and ample off street parking for tenants & guests.
- Energy rich region.
