Multi-Family for Sale
Catylist Listing ID: 30499138
Property Subtypes: Low-Rise/Garden
Number of Units: 69 Units
Building Size (RSF): 132,422 SF
Gross Building Area: See Agent
Gross Land Area: 3.04 Acres
Sale Price: $5,000,000
Unit Price: $72,463.77 Per Unit
Property Use Type: Investment
Building Name: Lake Forest North Apartments & Kelly Gene Apartments
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 6.0%
Average Occupancy Rate: 96
Last Updated: 9/12/2019

Overview / Comments

Lake Forest North Apartments, built 1970, is comprised of 46 apartments: 22 1-Bed, 1-Bath, and 24 2-Bed, 2-Bath, and 1 office; 34,144 Sq Ft AG, 17,072 SF BG, and includes garages;

Kelly Gene Apartments built 1964, is comprised of 23 apartments, all 1-Bed, 1-Bath; 10,388 SQ AG, 5,194 SQ BG.

Substantial updating has been completed, including new roofs, gutters, downspouts, A/C units in most, and new laminate counters through most units in LFN


Finance Data Year 2019
Real Estate Taxes - Annual($) $56,911 (Annual)

Additional Details

Nearest MSA: Omaha-Council Bluffs
County: Douglas
Taxing Authority: Douglas County
Tax ID/APN: 1601391572 & 2538400001
Zoning: MF
Percent Occupied: 96%
Property Located Between: N 112th Ave & W Maple Rd & N 40th St & Hamilton St
Highway Access: Lake Forest: HWY 64- 2 Mintues I-680-5 Minutes Kelly Gene: HWY 64- 2 Minutes HWY 75- 4 Minutes I-480- 6 Minutes
Airports: Eppley Airfield- 21 Minutes & 11 Minutes
Site Description: LFN with 46 Units is located just W of Interstate 680 and N of traffic artery W Maple Rd, & Kelly Gene Apartments with 23 units are located in the UNMC "Med Center" district, N of Cummings Street.
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Roof Type: Gable
Construction/Siding: Other
Exterior Description: Lake Forest is a Frame Masonry Veneer & Kelly Gene is a Frame Brick Veneer, both have gable roofs
Parking Type: Surface, Other
Parking Description: Surface parking lots and the ability for tenants to lease a garage
Total Parking Spaces: 83
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Fuel: Gas
Air Conditioning: Package Unit
Zoning Description: MF
Lot Frontage: 368 on Lake Forest 73 on Kelly Gene
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: CTR Properties LLC & WTR Properties LLC
Legal Description: LFN - Lot 7 in Lake Forest Estate Replat; KG - Lot 4 & S 8 Ft of Lot 1, ALL of Lot 2, & N 15 Ft of Lot 3, & 10 Ft of Vacated Alley adjacent, in Wills Subdivision, ALL in the City of Omaha, Douglas County, State of NE

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,555 96,848 240,763
Median Age: 34.45 36.6 36.83
Households: 7,430 41,519 99,248
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