Catylist ID:
#30647522
| Catylist Listing ID: | 30647522 |
| Property Subtypes: | Mid-Rise |
| Number of Units: | 48 Units |
| Building Size (RSF): | 14,262 SF |
| Gross Land Area: | 2.82 Acres |
| Sale Price: | $3,699,000 |
| Unit Price: | $77,062.50 Per Unit |
| Property Use Type: | Investment |
| Building Name: | Benson Gardens |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.0% |
| Average Occupancy Rate: | 96 |
| Last Updated: | 9/21/2020 |
Overview / Comments
|
*** The sale is a portfolio sale in conjunction with 3025 Meredith Ave, Omaha, NE. All offers will be considered, but priority will be given to offers for both apartment complexes. Benson Gardens Apartments is professional owned and managed by Allied. This is a solid B-class apartment complex with 48 total units, 42 garages, off-street parking and green space. There are thirty-two (32) 2-bedroom, 1 bath units with about 900 square feet. The other sixteen (16) are 1-bed, 1 bath units with about 780 square feet. The units are open concept as you walk into the living room / dining room area. Kitchens & baths have been tastefully updated. The complex consists of 2 buildings and 2 laundry rooms in each (4 total). Utilities: Each unit has separate electrical meter (OPPD) and tenants are responsible for putting electric in their name and paying bill. The gas and water are single meter to the buildings. The owners pay the gas and water, but bill each to the tenant per unit size. Capital Improvements: Sellers replaced the commercial grade flat roof on Building 1 in last three years and Building 2 in 2020. Both roof replacements come with transferrable warranty for the new ownership. The HVAC systems have been replaced as needed. The Sellers have replaced about HALF of the furnaces and central AC units. All other units have been consistently well maintained with records. Most of the appliances in each unit have been upgraded. Each unit boasts a refrigerator, stove and dishwasher. In addition, LED lights have been installed for most units. 1st & 2nd floor units have balconies that have all been renovated & secured. |
Attachments & Media
Financials
| Finance Data Year | 2020 |
|---|---|
| Real Estate Taxes - Annual($) | $45,876 (Annual) |
Additional Details
| Nearest MSA: | Omaha-Council Bluffs |
| County: | Douglas |
| Taxing Authority: | Douglas County |
| Tax ID/APN: | 0634180000 |
| Percent Occupied: | 100% |
| Community Amenities: | Jogging Paths, Play Ground, On-Site Maintenance |
| Property Located Between: | Benson & Midtown |
| Site Description: | Level 2.82 Acre property adjacent to City greenspace for enjoyment. Plenty of parking & garages. |
| Area Description: | Benson area |
| Total Number of Buildings: | 2 |
| Property Condition: | Good |
| Number of Stories: | 2 |
| Year Built: | 1971 |
| Year Renovated: | 2016 |
| Roof Type: | Flat |
| Construction/Siding: | Brick |
| Exterior Description: | Brick exterior. Lots of grounds space. Balconies on 1st and 2nd floor units. Garages and off-street parking available. |
| Parking Ratio: | 1 (per 1000 SF) |
| Parking Type: | Structure, Surface |
| Total Parking Spaces: | 48 |
| Laundry: | Shared |
| Sprinklers: | None |
| Heat Type: | Natural Gas |
| Heat Source: | Central |
| Fuel: | Gas |
| Air Conditioning: | Package Unit |
| Internet Access: | Cable |
| Interior Description: | Nicely updated 1 & 2 bed units. Upgrades include; appliances, LVP flooring, new carpet, LED lights, paint, plumbing & electric. |
| Zoning Description: | R6 |
| In Flood Plain?: | Yes |
| Lot Frontage: | 200 |
| Lot Depth: | 492 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Utilities |
| Land Ownership: | fee simple |
| Legal Description: | BENSON GARDENS LOT 220 BLOCK 0 LOT 219 & 2.82 AC |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 15,219 | 137,300 | 305,440 |
| Median Age: | 35.6 | 34.87 | 34.76 |
| Households: | 6,734 | 58,978 | 124,267 |
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