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Oak View Apartments 3915 N 70th Cir 30 Unit Apartment Building $1,800,000 ($60,000/Unit) Omaha, NE 68104
Investment Highlights
- Master-metered utilities, with current utility expenses and reimbursements operating at breakeven
- Approved insurance claim for a newly paved parking lot, providing near-term exterior improvement without additional capital
- On-site community laundry with (3) washers and (3) dryers, third-party operated by CSC Laundry
- Electrical panels up to code, reducing near-term compliance risk. Central water heater installed in 2016
- Furnace approximately 15+ years old; significant mechanical upgrades have been completed through prior capital expenditures
- Functional and efficient unit layouts supporting rent-ready condition
Executive Summary
Oak View Apartments offers a compelling opportunity to acquire a 30-unit multifamily asset at an attractive basis with a clearly defined, execution driven path to value creation. The investment thesis is centered on operational stabilization, expense normalization, and professional management, rather than speculative rent growth or heavy capital repositioning.
Offered at approximately $60,000 per unit, the asset is priced in line with recent transactions in the submarket while providing meaningful upside through improved occupancy and cost controls. Current operations reflect sub-optimal management, inflated controllable expenses, and below-stabilized occupancy, creating a favorable entry point for an experienced local owner-operator or vertically integrated investment platform.
Offered at approximately $60,000 per unit, the asset is priced in line with recent transactions in the submarket while providing meaningful upside through improved occupancy and cost controls. Current operations reflect sub-optimal management, inflated controllable expenses, and below-stabilized occupancy, creating a favorable entry point for an experienced local owner-operator or vertically integrated investment platform.
Property Facts
| Price | $1,800,000 | Building Class | C |
| Price Per Unit | $60,000 | Lot Size | 0.81 AC |
| Sale Type | Investment | Building Size | 19,875 SF |
| No. Units | 30 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Low-Rise | Parking Ratio | 1.61/1,000 SF |
| Zoning | R7 | ||
| Price | $1,800,000 |
| Price Per Unit | $60,000 |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.81 AC |
| Building Size | 19,875 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1973 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | R7 |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Refrigerator
- Oven
- Range
- Freezer
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | 650 |
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Property Taxes
| Parcel Number | 2221-0002-14 | Improvements Assessment | $1,583,800 |
| Land Assessment | $52,600 | Total Assessment | $1,636,400 |
Property Taxes
Parcel Number
2221-0002-14
Land Assessment
$52,600
Improvements Assessment
$1,583,800
Total Assessment
$1,636,400
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Oak View Apartments | 3915 N 70th Cir
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