1404 Rodeo Rd - Apartments FOR SALE


North Platte, NE 69101
$900,000 USD
303-481-2875
1404 Rodeo Rd, North Platte, NE for Sale
$900,000 USD
Apartments - FOR SALE
1/23
null | 8.25% Cap Rate

1404 Rodeo Rd
North Platte, NE 69101


HIGHLIGHTS

  • Well-maintained converted motel with 51 potential units
  • Located in North Platte, home to new developments
  • Small units offering operational efficiency
  • Current cashflow is strong with opportunities to expand through cosmetic renovations and new management/marketing
  • **One service line has a crack; estimated cost is $60,000**

OVERVIEW

C&C Apartments, located at 1404 and 1420 Rodeo Dr in North Platte, Nebraska presents a unique investment opportunity at competitive basis. The converted motel features three continuous buildings across 51 total units, with 44 currently rentable, offering strong potential cash flow and long-term appreciation. The 46 studio units are simple and easy to maintain, offer streamlined operational efficiency, and are in quality condition. There are 5 one-bedroom units, two of which can be built out by new ownership, offering tenants and new ownership different options. There is immense potential to increase revenue through strategic updates and a modernized approach to management, as only roughly 60% of the total units are currently being rented. With its strong location and growth potential, C&C Apartments will provide much needed housing to a town that is poised for rapid growth. North Platte is home to major transportation routes and local attractions, with a brand-new meatpacking plant headlining recent new developments. The plant, which Sustainable Beef and Walmart spent more than $400M on, will directly and indirectly provide between 1,500 and 3,000 jobs. The plant is scheduled to be complete and fully operational by Spring 2025 and will inject roughly $1B annually into the North Platte and Nebraska economy.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$53 USD /SF

# OF UNITS

51

PRICE/UNIT

$17,647

CAP RATE

8.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

C & C Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

51

LAND DETAILS

LAND ACRES

2.11 AC

LAND SF

91,955 SF

ZONING

-

APN/PARCEL ID

0017690.00,0024055.00

ASK ABOUT THIS PROPERTY

Andrew VollertKaufman HaganMore Info
303-481-2875

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Andrew VollertKaufman HaganMore Info
303-481-2875

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.