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2416 S 16th St 12 Unit Apartment Building $925,000 ($77,083/Unit) Omaha, NE 68108
Investment Highlights
- 12-unit multifamily on a 0.47-acre lot near popular Vinton Street Corridor
- New roof (2025) | R-7 zoning
- Owner bills back water and sewer; electric and gas are individually metered
- Large 1-bed units (2-bed potential, subject to approvals)
- Walkout basements (separate access; add'l income potential)
- Potential to add parking and/or green space behind the building
Executive Summary
2416 S. 16th Street is a well-located multifamily investment opportunity in the South Omaha Vinton Street corridor, situated on a large 0.47-acre lot. The property consists of approximately 12 one-bedroom, one-bath units and offers multiple avenues for value enhancement while maintaining in-place cash flow.
Units feature larger-than-average floor plans, providing potential to reconfigure into two-bedroom layouts, subject to zoning and City of Omaha approvals. The building includes 6 full unfinished ground level basements with separate access, creating the opportunity to convert the space into secured tenant storage, garage spaces, laundry or other income-producing uses, subject to feasibility and municipal approval.
Located minutes from Downtown and Midtown Omaha with convenient access to major transportation routes, the property is positioned in a stable rental market with consistent demand. This offering is ideal for an investor seeking current income with significant upside through unit reconfiguration, expansion, and operational improvements.
Units feature larger-than-average floor plans, providing potential to reconfigure into two-bedroom layouts, subject to zoning and City of Omaha approvals. The building includes 6 full unfinished ground level basements with separate access, creating the opportunity to convert the space into secured tenant storage, garage spaces, laundry or other income-producing uses, subject to feasibility and municipal approval.
Located minutes from Downtown and Midtown Omaha with convenient access to major transportation routes, the property is positioned in a stable rental market with consistent demand. This offering is ideal for an investor seeking current income with significant upside through unit reconfiguration, expansion, and operational improvements.
Property Facts
| Price | $925,000 | Apartment Style | Low-Rise |
| Price Per Unit | $77,083 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| No. Units | 12 | Building Size | 13,400 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1890 |
| Zoning | R7 - R7 Medium-Density Multiple-Family Residential District | ||
| Price | $925,000 |
| Price Per Unit | $77,083 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 13,400 SF |
| No. Stories | 2 |
| Year Built | 1890 |
| Zoning | R7 - R7 Medium-Density Multiple-Family Residential District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 996 - 1,083 |
Walk Score®
Very Walkable (79)
Property Taxes
| Parcel Number | 1414-3200-00 | Improvements Assessment | $816,000 |
| Land Assessment | $62,000 | Total Assessment | $878,000 |
Property Taxes
Parcel Number
1414-3200-00
Land Assessment
$62,000
Improvements Assessment
$816,000
Total Assessment
$878,000
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2416 S 16th St
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