River Run I & II

1228 South 17th Street, Laramie, WY 82070
Status: Available
Year Built: 2004 & 2005
Price: $4,100,000
For more information please contact:
jeff@lihtcadvisors.com
In Cooperation with:

Mike Elliott
Energy Real Estate Solutions, LLC
Managing Principal
701-713-6606
Mike.Elliott@Energyreco.com

Price Per Unit: $64,063
Price Per SF: $62.15
# of Units: 64
# of Buildings: 11
# of Stories: 2
Rentable SF: 65,996
Lot Size: 4.53 Acres
Density: 14.12 Units/Acre

Highlights:

  • Laramie is Located Approximately 50 Miles from Cheyenne
  • Area Median Income in Albany County has Grown from $68,300 in 2017 to $73,800 in 2019
  • Home to the University of Wyoming, Which has an Enrollment of 9,791
  • Conveniently Located Close to Area Amenities Such as Schools, Public Parks, the University of Wyoming, Shopping, and Interstate 80

Description:

River Run Apartments I & II is a 64-unit affordable housing community located in Laramie, WY. The property is located minutes from schools, shopping, Interstate 80, and the University of Wyoming.

Phase I of the property was built and placed in service in 2004 and Phase II of the property was built and placed in service in 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which requires all units to be rented to income qualifying residents earning no more than 40%, 45%, 50%, and 55% of Area Medium Income (AMI) limits, which are provided by the Wyoming Community Development Authority. The property is still within its initial tax credit compliance period.

The property offers two, three, and four bedroom apartment homes complete with a fully equipped kitchen with a patio/balcony, walk-in closets, and extra storage. Community amenities include an on-site leasing office, on-site maintenance, computer room, fitness center, on-site laundry facility, playground, & picnic area.

Laramie is a city in Albany County, Wyoming with a population of 32,104. Located on the Laramie River in southeastern Wyoming, the city is west of Cheyenne, at the junction of Interstate 80 and U.S. Route 287.

Laramie was settled in the mid-19th century along the Union Pacific Railroad line, which crosses the Laramie River at Laramie. It is home to the University of Wyoming, Wyoming Technical Institute, and a branch of Laramie County Community College. Laramie Regional Airport serves the area. The ruins of Fort Sanders, an army fort predating Laramie, lie just south of the city along Route 287. Located in the Laramie Valley between the Snowy Range and the Laramie Range, the city draws outdoor enthusiasts because of its abundance of outdoor activities including skiing, snowmobiling, mountain biking, hunting, fishing, and hiking.

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