1001 N 29th St - Apartments FOR SALE


Omaha, NE 68131- Midtown Omaha
$850,000 USD
404-740-9458
1001 N 29th St, Omaha, NE for Sale
$850,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

1001 N 29th St
Omaha, NE 68131
Midtown Omaha


HIGHLIGHTS

  • Townhome-style private entries create a distinct leasing advantage over common-hallway competitors.
  • Balanced mix of (6) 1-Bedroom and (6) 2-Bedroom residences.
  • Major systems modernized. 8 of 12 water heaters and 6 of 12 A/C handlers replaced in the last decade. Updated windows and electrical panels.
  • 6 units fully upgraded, establishing the rent ceiling and proving the business plan.
  • Remaining 6 “classic” units provide immediate revenue enhancement potential.

OVERVIEW

Lee & Associates is pleased to present the opportunity to acquire a 12-unit, vintage all-brick apartment community located in Omaha, Nebraska. The Property features a highly desirable unit mix of (6) 2BR/1BA and (6) 1BR/1BA residences, with a differentiated private-entry / townhome-style configuration that appeals to a broad renter base. The asset has benefited from meaningful capital investment over the past 10–15 years, including electrical and plumbing updates, exterior improvements, and partial interior renovations. Six (6) of twelve (12) units have been fully upgraded, providing an immediate runway to complete the remaining interiors and capture additional rent growth. The Property is currently operating at a $45,908.33 NOI, with a clear, realistic path to improved cash flow through rent-to-market execution and expense optimization, including the ability to shift utilities to tenant-direct payment where applicable. A stabilized underwriting scenario indicates NOI upside to $72,342, supporting an approximate $1,033,457 value at a 7.00% cap rate.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$108 USD /SF

# OF UNITS

12

PRICE/UNIT

$70,833

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1890

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R7

APN/PARCEL ID

2868-0000-05

ASK ABOUT THIS PROPERTY

Mo BarryLee & Associates | OmahaMore Info
404-740-9458

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Mo BarryLee & Associates | OmahaMore Info
404-740-9458

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