Contacts

Mo Barry

Lee & Associates - Nebraska

Property Details

Property Type Multi-Family
Property Size 16,754 SF
Units 31
Additional Rent Contact for pricing
Year Built 1960
Date Updated Oct 20, 2024

The location is a well-established residential neighborhood with access to parks, schools, and public transportation, benefiting from ongoing revitalization efforts.Lee & Associates presents two value-add opportunities: a 27-unit multifamily property located at 3025 Meredith Ave, Omaha, NE 68111, and a neighboring fourplex. Both properties are currently cash-flowing with the potential for increased profitability. The 27-unit building, dating back to the 1960s, consists mostly of one-bedroom units, with recent renovations in 11 units achieving rents of $800 per month. The fourplex at 4738 N 38th St, Omaha, NE 68111, includes three one-bedroom, one-bath units and one two-bedroom, one-bath unit, generating $2,912 per month, with tenants contributing to utility costs. There is room to improve the asset value, making it a strong complement to the Meredith Avenue property. This package includes amenities like off-street parking, a laundry room, a property management office, and a fully integrated security system. This investment offers potential for further renovations and value appreciation, especially with government-supported exterior updates and an assignable insurance claim. The properties are located in a well-established residential neighborhood with access to parks, schools, and public transportation, benefiting from ongoing revitalization efforts.

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Highlights

Brick exterior
7.9 Cap
Profoma NOI $146,318
1960’s built
Security system
Value-add opportunity
Off street parking
Tenants pay electricity

Getting around

52/100
Walk Score ®
41/100
Transit Score ®
37/100
Bike Score ®

Powered by Walk Score ®

City Omaha, NE
Neighborhood Monmouth - Central Park
Zip Code 68111
Market Omaha

Points of Interest

Valero

1.51 miles
K-N-J Express

1.80 miles
Phillips 66

1.87 miles
Sinclair

2.02 miles
QuikTrip

2.06 miles
Mega Saver

2.84 miles
Casey's General Store

2.85 miles
Speedee Mart

2.98 miles
ChargePoint

3.23 miles
Think Whole Person GE EVSE

5.18 miles

Park/Memorial

0.73 miles
Golf/Handicapped

1.35 miles
parallel

1.41 miles
Park/Pool

1.66 miles
Storz Rugby

1.72 miles
Benson Branch Library

2.13 miles
IPC Visitors

2.30 miles
oMetro Employee Lot B

2.45 miles
Private

2.46 miles
Private/Monthly Parking

3.33 miles

Four Points by Sheraton

2.71 miles
Fairfield Inn & Suites Omaha Downtown

2.79 miles
Holiday Inn Omaha Downtown Airport

2.86 miles
Element Omaha Midtown Crossing

2.87 miles
Home2 Suites

2.91 miles
Homewood Suites by Hilton Omaha-Downtown

2.91 miles
Hampton Inn & Suites Omaha-Downtown

2.94 miles
Cambria Hotel Omaha Downtown

2.95 miles
Kimpton Cottonwood Hotel

2.98 miles
Econo Lodge

3.18 miles

ALDI

0.73 miles
J-N-J Grocery

0.88 miles
Walmart Supercenter

1.13 miles
JnD Grocery

1.67 miles
Baker's

1.87 miles
Selena's Market

2.50 miles
Walmart Neighborhood Market

2.69 miles
Wohlner's Neighborhood Grocery & Deli

2.86 miles
Oxide Design Co.

2.94 miles
Marshalls

3.24 miles

In-Depth Research Available for this Property

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3025 Meredith Ave & 4738 North 38th Street