1015 47Th AveOmaha, NE 68132

For Sale
$649,000

12-Unit Apartment Building, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
92
This 12-unit apartment building in Omaha, Nebraska presents a compelling value-add investment opportunity. Located at 1015 N 47th Ave, this three-story, 6,804 square foot building, constructed in 1963, sits on a 0.17-acre lot and is zoned R7. The property currently boasts 11 one-bedroom units and one studio, offering significant potential for rental income growth through strategic renovations. Recent upgrades include new exterior doors and windows, along with interior improvements in select units featuring updated kitchens, bathrooms, and luxury vinyl plank (LVP) flooring. The building offers on-site parking for tenant convenience. With a current occupancy rate of 42%, a pro-forma NOI of $55,888, and a pro-forma cap rate of 8.61%, this property offers a strong return on investment. The asking price is $649,000, translating to $54,083.33 per unit and $95.39 per square foot. This property is situated in a desirable Omaha neighborhood, providing easy access to schools, shopping, dining, and public transportation, making it an attractive option for renters. The property's strong fundamentals and value-add potential make it an ideal investment for those seeking to capitalize on Omaha's thriving rental market. The Douglas County APN is 2405810000.

Highlights

  • $649,000 asking price for a 12-unit apartment building in Omaha, Nebraska.
  • Value-add opportunity with a projected 8.61% pro-forma cap rate and $55,888 pro-forma NOI.
  • 6,804 square feet on a 0.17-acre lot, with a price per square foot of $95.39 and a price per unit of $54,083.33.
  • Currently 42% occupied, featuring 11 one-bedroom units and 1 studio unit in a three-story building constructed in 1963.
  • Located at 1015 N 47th Ave, Omaha, NE 68132, zoned R7 with on-site parking.

Property Details for 1015 47Th Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
6,804 SF
Class
C
Year Built
1963
Buildings
1
Stories
3
Lot Size (sq. ft)
7,405 SF
Units
12

Location Insight

City
Omaha
County
Douglas
State
Nebraska
Latitude
41.269285012503
Longitude
-95.984868488208
1015 47Th Ave, Omaha, Nebraska

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1015 47Th Ave
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