36 Unit Apartment Complex

Multi-Family for Sale
Catylist Listing ID: 30747525
Property Subtypes: Mid-Rise
Number of Units: 36 Units
Building Size (RSF): 14,600 SF
Gross Land Area: 0.99 Acres
Sale Price: $2,800,000
Unit Price: $77,777.78 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.76%
Average Occupancy Rate: 96
Last Updated: 7/15/2021

Overview / Comments

Rare opportunity to buy a preforming 36 unit apartment complex located in a highly desired rental area of Lincoln near campus'. This all electric complex features brand new energy saving solar panels, ample amounts of interior updates, exterior common area and coin-op laundry.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $21,460 (Annual)
Tax Value Land $198,000
Assessed Value - Total($) $1,498,800 (Annual)
Potential Rental Income $249,900 (Annual)
Gross Operating Income $240,550 (Annual)
Net Operating Income $161,347 (Annual)

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Tax ID/APN: 1718230003000
Property Located Between: 33rd & Cornhusker HWY
Number of Stories: 3
Year Built: 1975
Construction/Siding: Concrete
Parking Type: Surface
Total Parking Spaces: 65
Laundry: Shared
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Lot Frontage: 297
Lot Depth: 148
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: PITCHER AND BALDWINS SECOND ADDITION TO UNIVERSITY PLACE, BLOCK 36, Lot 12 - 17, EX ST & E-W ALLEY ADJ LOTS 7 & 16 (SEE ALSO ALT KEY 1554641 FOR 1987 - 1991)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,802 124,906 197,676
Median Age: 27.22 31.78 33.9
Households: 4,339 51,420 81,037

Contact

Photograph of Listing Agent

Jenni Limbach

Arrow Brokerage MRCIE Member
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