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29 Flats Apartments 1367-1369 S 76th Ave 29 Unit Apartment Building $2,755,000 ($95,000/Unit) 6.44% Cap Rate Omaha, NE 68124
Investment Highlights
- 29 one-bed units, updated with kitchens open to the living areas. Each unit features a large, picture window or glass door to deck.
- All decks replaced in 2023. much of the concrete has been replaced. Building is clean and neat and in an excellent, central location.
Executive Summary
Well-cared-for multifamily asset reflecting pride of ownership and consistent reinvestment over the years. Located in a prime area, this all-brick apartment building features 29 fully occupied one-bedroom, one-bath units, delivering immediate and stable cash flow. Major capital improvements include a new roof (2019), new decks (2023), updated concrete (2020) and retaining wall (2024), and a renovated laundry room (2025). Additional upgrades include several new HVAC systems and multiple remodeled bathrooms. Showings by firm appointment only. Please refer to associated MLS documents for detailed financial information, including rent roll, income and expense breakdown, utilities and parking details. Listing agent is owner.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$252,755
|
$14.87
|
| Other Income |
$21,424
|
$1.26
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$274,179
|
$16.13
|
| Taxes |
$22,081
|
$1.30
|
| Operating Expenses |
$87,468
|
$5.15
|
| Total Expenses |
$109,549
|
$6.44
|
| Net Operating Income |
$164,630
|
$9.68
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $252,755 |
| Annual Per SF | $14.87 |
| Other Income | |
|---|---|
| Annual | $21,424 |
| Annual Per SF | $1.26 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $274,179 |
| Annual Per SF | $16.13 |
| Taxes | |
|---|---|
| Annual | $22,081 |
| Annual Per SF | $1.30 |
| Operating Expenses | |
|---|---|
| Annual | $87,468 |
| Annual Per SF | $5.15 |
| Total Expenses | |
|---|---|
| Annual | $109,549 |
| Annual Per SF | $6.44 |
| Net Operating Income | |
|---|---|
| Annual | $164,630 |
| Annual Per SF | $9.68 |
Property Facts
| Price | $2,755,000 | Apartment Style | Low-Rise |
| Price Per Unit | $95,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.64 AC |
| Cap Rate | 6.44% | Building Size | 17,000 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 29 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 2.47/1,000 SF |
| Zoning | Multifamily | ||
| Price | $2,755,000 |
| Price Per Unit | $95,000 |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| Sale Condition | 1031 Exchange |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 17,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 2.47/1,000 SF |
| Zoning | Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 29 | - | 575 |
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Property Taxes
| Parcel Number | 2910-0001-08 | Total Assessment | $1,346,600 |
| Land Assessment | $41,400 | Annual Taxes | $22,081 ($1.30/SF) |
| Improvements Assessment | $1,305,200 | Tax Year | 2025 |
Property Taxes
Parcel Number
2910-0001-08
Land Assessment
$41,400
Improvements Assessment
$1,305,200
Total Assessment
$1,346,600
Annual Taxes
$22,081 ($1.30/SF)
Tax Year
2025
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29 Flats Apartments | 1367-1369 S 76th Ave
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