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2620 K St 7 Unit Apartment Building $490,000 ($70,000/Unit) Lincoln, NE 68510
INVESTMENT HIGHLIGHTS
- 7 total units – all two-bedroom floor plans
- Strong local demand for renovated two-bedroom apartments
- Opportunity to increase NOI through rent growth and operational improvements
- Below-market in-place rents with upside through renovation
- Manageable unit count ideal for hands-on ownership
- Attractive entry point relative to larger stabilized multifamily assets
EXECUTIVE SUMMARY
2620 K Street is a 7-unit multifamily investment opportunity located in Lincoln, Nebraska, offering buyers a clear value-add path through interior upgrades and rent repositioning. The property is comprised entirely of two-bedroom units, a highly desirable unit type that supports strong leasing demand and long-term tenant stability.
Current ownership has prioritized high occupancy and operational consistency, with limited capital investment made into unit interiors. As a result, in-place rents remain below prevailing market levels, presenting an opportunity for a new owner to unlock additional value through renovation and improved management.
Based on recently renovated and re-leased properties in the immediate area, two-bedroom units in comparable condition are achieving meaningfully higher rents than those currently in place at the property. A buyer who executes a thoughtful renovation program should be able to materially increase cash flow and long-term asset value over time.
The property is well suited for a hands-on investor, small operator, or buyer seeking to build equity through a manageable-scale multifamily project. Its unit count and layout make it an efficient investment for those looking to reposition an asset without the complexity of larger portfolios.
Located in the heart of Lincoln, just minutes from Downtown, the Haymarket District, and the University of Nebraska. Residents benefit from convenient access to local restaurants, entertainment, everyday retail amenities, and a growing mix of residential and commercial development.
Its central location supports strong rental demand due to its proximity to downtown, employers, the university, and Lincoln’s core amenities.
POSITIONING NOTE
This is a true value-add opportunity. Buyers seeking a fully renovated, turnkey asset may find this property less suitable. For investors focused on equity creation through renovation and execution, 2620 K Street offers a compelling opportunity in a stable Lincoln submarket.
Current ownership has prioritized high occupancy and operational consistency, with limited capital investment made into unit interiors. As a result, in-place rents remain below prevailing market levels, presenting an opportunity for a new owner to unlock additional value through renovation and improved management.
Based on recently renovated and re-leased properties in the immediate area, two-bedroom units in comparable condition are achieving meaningfully higher rents than those currently in place at the property. A buyer who executes a thoughtful renovation program should be able to materially increase cash flow and long-term asset value over time.
The property is well suited for a hands-on investor, small operator, or buyer seeking to build equity through a manageable-scale multifamily project. Its unit count and layout make it an efficient investment for those looking to reposition an asset without the complexity of larger portfolios.
Located in the heart of Lincoln, just minutes from Downtown, the Haymarket District, and the University of Nebraska. Residents benefit from convenient access to local restaurants, entertainment, everyday retail amenities, and a growing mix of residential and commercial development.
Its central location supports strong rental demand due to its proximity to downtown, employers, the university, and Lincoln’s core amenities.
POSITIONING NOTE
This is a true value-add opportunity. Buyers seeking a fully renovated, turnkey asset may find this property less suitable. For investors focused on equity creation through renovation and execution, 2620 K Street offers a compelling opportunity in a stable Lincoln submarket.
PROPERTY FACTS
| Price | $490,000 | Building Class | C |
| Price Per Unit | $70,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,832 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 1.37/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R4 | ||
| Price | $490,000 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,832 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+0 | 7 | - | - |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 10-25-242-011-000 | Improvements Assessment | $489,500 |
| Land Assessment | $33,100 | Total Assessment | $522,600 |
PROPERTY TAXES
Parcel Number
10-25-242-011-000
Land Assessment
$33,100
Improvements Assessment
$489,500
Total Assessment
$522,600
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2620 K St
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