NORTH OMAHA 31-UNIT MULTIFAMILY PACKAGE Multi-Family FOR SALE


Omaha, NE
$1,850,000 USD
531-721-2888
, Omaha, NE for Sale
$1,850,000 USD
Multi-Family - FOR SALE
1/13
null | 7.9% Cap Rate

NORTH OMAHA 31-UNIT MULTIFAMILY PACKAGE
Omaha, NE


HIGHLIGHTS

  • Brick Exterior
  • 7.9 Cap
  • Proforma NOI $146,318
  • Security System
  • Value-Add Property
  • Off Street Parking

OVERVIEW

Lee & Associates presents two value-add opportunities: a 27-unit multifamily property located at 3025 Meredith Ave, Omaha, NE 68111, and a neighboring fourplex. Both properties are currently cash-flowing with the potential for increased profitability. The 27-unit building, dating back to the 1960s, consists mostly of one-bedroom units, with recent renovations in 11 units achieving rents of $800 per month. The fourplex at 4738 N 38th St, Omaha, NE 68111, includes three one-bedroom, one-bath units and one two-bedroom, one-bath unit, generating $2,912 per month, with tenants contributing to utility costs. There is room to improve the asset value, making it a strong complement to the Meredith Avenue property. This package includes amenities like off-street parking, a laundry room, a property management office, and a fully integrated security system. This investment offers potential for further renovations and value appreciation, especially with government-supported exterior updates and an assignable insurance claim. The properties are located in a well-established residential neighborhood with access to parks, schools, and public transportation, benefiting from ongoing revitalization efforts. INVESTMENT STRATEGY This property offers a value-add opportunity with significant potential for renovation and increased property value. Government programs are actively supporting exterior renovations in the area, enhancing the appeal. Additionally, the sale includes a proposed assignable insurance claim, further boosting the asset’s potential. Investors can also raise the property's value by updating the interiors and leasing units at market rates, currently estimated at $800 across the property. This portfolio is particularly well-suited for investors working with nonprofits or government-assisted subsidy programs, along with a visionary looking for a grant project.

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Mo BarryLee & Associates | OmahaMore Info
531-721-2888

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Mo BarryLee & Associates | OmahaMore Info
531-721-2888

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