305 7Th StBeatrice, NE 68310

For Sale
$1,350,000

23-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional multifamily investment opportunity comprises three buildings totaling 23 units in Beatrice, Nebraska. The portfolio includes a 15-unit, three-story brick and concrete building at 723 Ella Street, constructed in 1928, featuring a corner lot, parking, and a basement with unfinished units. An adjacent 950 square foot single-family residence at 715 Ella Street offers alley access. A seven-unit, three-story brick and concrete building at 305 N 7th Street, built in 1910, sits on a corner lot. The combined portfolio boasts 16,080 square feet on a 0.41-acre lot. The asking price is $1,350,000, representing $58,695.65 per unit and $83.96 per square foot. The current Net Operating Income (NOI) is $119,395, yielding an 8.84% cap rate, with a pro-forma NOI of $138,827 and a pro-forma cap rate of 10.28%. The property benefits from well-maintained mechanical systems, recent improvements, and a walkable location near downtown Beatrice's retail and office corridor. The low property tax basis and rural location offer additional investment advantages. This value-add opportunity presents significant potential for increased revenue.

Highlights

  • Value-add opportunity with potential for increased revenue.
  • Well-maintained mechanical systems and recent improvements.
  • Walkable to downtown Beatrice's retail and office district.
  • Low property tax basis.
  • Rural location with lower traffic volume.
  • 8.84% current cap rate, 10.28% pro-forma cap rate.

Property Details for 305 7Th St

Property type
Multifamily properties, Apartment buildings
Square Feet
16,080 SF
Year Built
1910
Buildings
3
Stories
3
Lot Size (sq. ft)
17,860 SF
Units
23

Location Insight

City
Beatrice
County
Gage
State
Nebraska
Latitude
40.26819978
Longitude
-96.74536804
305 7Th St, Beatrice, Nebraska

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305 7Th St
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