4505 Lafayette AveOmaha, NE 68132

For Sale
$649,000

12-Unit Apartment Building, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional value-add multifamily investment opportunity presents a 12-unit apartment building located at 4505 Lafayette Ave, Omaha, Nebraska, 68132. The property, known as The Halford Apartments, boasts 6,760 square feet of net rentable space within a 6,924-square-foot building situated on a 0.17-acre lot. Built in 1964 and renovated in 2021, the building features 11 one-bedroom, one-bathroom units and one studio unit. Each unit includes updated kitchens and bathrooms, private entry, and laminate flooring. Residents enjoy convenient on-site laundry facilities and access to nine parking spaces. The property currently has 58.33% occupancy as of January 21, 2024, and offers a pro-forma NOI of $62,044 and a pro-forma cap rate of 9.56%. The asking price is $649,000, translating to $54,083.33 per unit and $93.73 per square foot. The property is zoned R7, situated in a desirable location between the Dundee and Benson neighborhoods, known for a mix of multifamily, residential, and retail properties. This presents a strong opportunity for an experienced operator to increase cash flow through higher rents and improved occupancy. The property's location benefits from proximity to new construction projects, reflecting the area's growth and appeal within Omaha's rental market. The land value is estimated at $4,705,882 per acre. This is a prime opportunity to acquire a well-positioned asset with significant upside potential.

Highlights

  • Strong workforce housing demand.
  • Recently renovated interiors.
  • Potential acquisition includes 1015 N. 47th St., Omaha, NE 68132.
  • Ideal for seasoned investors.
  • Value-add opportunity with upside potential for increased rent and occupancy.

Property Details for 4505 Lafayette Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
6,924 SF
Class
C
Year Built/Renovated
1964/2021
Buildings
1
Stories
3
Lot Size (sq. ft)
7,405 SF
Units
12

Location Insight

City
Omaha
County
Douglas
State
Nebraska
Latitude
41.271018997779
Longitude
-95.980910338837
4505 Lafayette Ave, Omaha, Nebraska

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4505 Lafayette Ave
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