2620 K St - Apartments FOR SALE


Lincoln, NE 68510- Woods Park
$490,000 USD
531-721-2888
2620 K St, Lincoln, NE for Sale
$490,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

2620 K St
Lincoln, NE 68510
Woods Park


HIGHLIGHTS

  • 7 total units – all two-bedroom floor plans
  • Below-market in-place rents with upside through renovation
  • Strong local demand for renovated two-bedroom apartments
  • Manageable unit count ideal for hands-on ownership
  • Opportunity to increase NOI through rent growth and operational improvements
  • Attractive entry point relative to larger stabilized multifamily assets

OVERVIEW

2620 K Street is a 7-unit multifamily investment opportunity located in Lincoln, Nebraska, offering buyers a clear value-add path through interior upgrades and rent repositioning. The property is comprised entirely of two-bedroom units, a highly desirable unit type that supports strong leasing demand and long-term tenant stability. Current ownership has prioritized high occupancy and operational consistency, with limited capital investment made into unit interiors. As a result, in-place rents remain below prevailing market levels, presenting an opportunity for a new owner to unlock additional value through renovation and improved management. Based on recently renovated and re-leased properties in the immediate area, two-bedroom units in comparable condition are achieving meaningfully higher rents than those currently in place at the property. A buyer who executes a thoughtful renovation program should be able to materially increase cash flow and long-term asset value over time. The property is well suited for a hands-on investor, small operator, or buyer seeking to build equity through a manageable-scale multifamily project. Its unit count and layout make it an efficient investment for those looking to reposition an asset without the complexity of larger portfolios. Located in the heart of Lincoln, just minutes from Downtown, the Haymarket District, and the University of Nebraska. Residents benefit from convenient access to local restaurants, entertainment, everyday retail amenities, and a growing mix of residential and commercial development. Its central location supports strong rental demand due to its proximity to downtown, employers, the university, and Lincoln’s core amenities. POSITIONING NOTE This is a true value-add opportunity. Buyers seeking a fully renovated, turnkey asset may find this property less suitable. For investors focused on equity creation through renovation and execution, 2620 K Street offers a compelling opportunity in a stable Lincoln submarket.

FOR SALE DETAILS

PRICE

$490,000 USD

PRICE/SF

$59 USD /SF

# OF UNITS

7

PRICE/UNIT

$70,000

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

1979

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,100 SF

ZONING

R4

APN/PARCEL ID

10-25-242-011-000

ASK ABOUT THIS PROPERTY

Ammar Abu-HamdaLee & Associates | LincolnMore Info
531-721-2888

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Ammar Abu-HamdaLee & Associates | LincolnMore Info
531-721-2888

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