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Cielo 120 809 N 121st St 24 Unit Apartment Building $2,550,000 ($106,250/Unit) Omaha, NE 68154
Investment Highlights
- Most units have received updates with new flooring, countertops, modern appliances, and paint.
- Stable submarket with consistent rental performance supporting long-term revenue growth potential.
- Well-located within a growing Omaha neighborhood with convenient access to retail, schools, and employment centers.
- Opportunity to capture additional upside through continued modernization and operational efficiencies.
Executive Summary
Cielo 120 presents an appealing multifamily investment opportunity in Omaha, featuring 21 units within a highly stable residential submarket. This property offers immediate value-add potential as a majority of the units have undergone significant interior upgrades, including new flooring, countertops, modern appliances, and fresh paint. Several units also benefit from new HVAC systems, helping to reduce near-term capital expenditure requirements for an incoming owner.
The community’s location places residents within convenient reach of Omaha’s major employment centers, retail hubs, and dining options, creating strong appeal for long-term tenancy. With market fundamentals demonstrating steady rent growth and occupancy strength, the property offers investors an opportunity to secure reliable cash flow with added upside through strategic enhancements and lease optimization. Proximity to major roadways ensures accessibility, while the updated interiors align with contemporary renter expectations.
The community’s location places residents within convenient reach of Omaha’s major employment centers, retail hubs, and dining options, creating strong appeal for long-term tenancy. With market fundamentals demonstrating steady rent growth and occupancy strength, the property offers investors an opportunity to secure reliable cash flow with added upside through strategic enhancements and lease optimization. Proximity to major roadways ensures accessibility, while the updated interiors align with contemporary renter expectations.
Property Facts
| Price | $2,550,000 | Building Class | B |
| Price Per Unit | $106,250 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 13,340 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 1.84/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R7 | ||
| Price | $2,550,000 |
| Price Per Unit | $106,250 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.48 AC |
| Building Size | 13,340 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | R7 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | - | 650 |
| 2+1 | 9 | - | 1,000 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5551-0617-17 | Improvements Assessment | $1,485,900 |
| Land Assessment | $41,600 | Total Assessment | $1,527,500 |
Property Taxes
Parcel Number
5551-0617-17
Land Assessment
$41,600
Improvements Assessment
$1,485,900
Total Assessment
$1,527,500
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Cielo 120 | 809 N 121st St