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Rochambeau Apartments 1234 K St 24 Unit Apartment Building $1,650,000 ($68,750/Unit) Lincoln, NE 68508
Investment Highlights
- 100% leased
- Property has demonstrated durable demand in this downtown location
- Major Capital Item Completed: Sewer line replacement in basement
- 24 units (20 studios, 4 one-bedrooms)
- The studio-heavy mix serves students, professionals, & service-sector employees seeking affordable housing near major employment and activity centers
- Projected 2026 NOI: ~$104,000; Ideal for private investors, 1031 exchange buyers, or out-of-state investors seeking a stabilized Midwest asset
Executive Summary
1234 K Street is a 24-unit, renovated, stabilized multifamily asset with 100% occupancy, offering immediate cashflow for the purchaser. The unit mix consists of 20 studio units and 4 one-bedroom units, with in-place rents that remain attractive to tenants while offering future upside through organic rent growth and continued expense optimization. Offered at $68,750 per unit, the pricing is compelling on a price per door basis, positioning the asset to deliver stable income today with a clear path for incremental NOI growth in the coming years.
1234 K Street is located in the heart of downtown Lincoln, placing the property within close proximity to the city's primary business, government, university, and entertainment districts. This location is a prime spot for University of Nebraska-Lincoln students, professionals working in the downtown Lincoln area, and service and hospitality workers who want to live near work. The consistent employment density and strong daytime population in the surrounding community create long-term demand for housing in the area.
1234 K Street is located in the heart of downtown Lincoln, placing the property within close proximity to the city's primary business, government, university, and entertainment districts. This location is a prime spot for University of Nebraska-Lincoln students, professionals working in the downtown Lincoln area, and service and hospitality workers who want to live near work. The consistent employment density and strong daytime population in the surrounding community create long-term demand for housing in the area.
Property Facts
| Price | $1,650,000 | Building Class | C |
| Price Per Unit | $68,750 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 16,384 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1927 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | B4 | ||
| Price | $1,650,000 |
| Price Per Unit | $68,750 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 16,384 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | B4 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 440 - 500 |
| 1+1 | 4 | - | 1,150 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 10-26-222-009-000 | Improvements Assessment | $953,300 |
| Land Assessment | $253,200 | Total Assessment | $1,206,500 |
Property Taxes
Parcel Number
10-26-222-009-000
Land Assessment
$253,200
Improvements Assessment
$953,300
Total Assessment
$1,206,500
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Rochambeau Apartments | 1234 K St
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