3913 Farnam StOmaha, NE 68131

For Sale
$1,095,000

Omaha 4-unit apartment building, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 4-unit apartment building presents a compelling value-add investment opportunity in Omaha's desirable Blackstone District. Located at 3913 Farnam St, this 1912-built, two-story building boasts 8,304 square feet situated on a 6,486 square foot lot. Completely renovated in 2017, the property currently enjoys 100% occupancy, generating a pro-forma NOI of $86,577 and a pro-forma cap rate of 7.91%. Each of the four units offers four bedrooms, providing substantial rental income. The asking price is $1,095,000, translating to $131.86 per square foot and $273,750 per unit. The property's prime location offers unmatched connectivity to Blackstone, UNMC, and Midtown Crossing, and is directly adjacent to the future streetcar line. Omaha's strong multifamily market, with leading annual rent growth, further enhances the investment potential. The permitted zoning is NBD-ACI-1(PL). This property is ideally suited for an investor seeking strong cash flow and significant upside potential through further value-add improvements. The building's historic charm combined with its modern updates creates a highly desirable rental property in a vibrant and rapidly appreciating neighborhood.

Highlights

  • Completely renovated 4-unit apartment building in Omaha's Blackstone District.
  • Prime location near Blackstone, UNMC, Midtown Crossing, and future streetcar line.
  • Strong cash flow with a pro-forma NOI of $86,577 and a 7.91% pro-forma cap rate.
  • Excellent value-add opportunity with potential for rental premium increases.
  • Tours available: Monday, November 4th, 3:00 PM - 4:00 PM and Thursday, November 7th, 12:00 PM - 1:00 PM.

Property Details for 3913 Farnam St

Property type
Multifamily properties, Apartment buildings
Square Feet
8,304 SF
Class
B
Year Built/Renovated
1912/2017
Buildings
1
Stories
2
Units
4

Location Insight

City
Omaha
County
Douglas
State
Nebraska
Latitude
41.257826123784
Longitude
-95.972865904349
3913 Farnam St, Omaha, Nebraska

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3913 Farnam St
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