NORTH OMAHA 31-UNIT MULTIFAMILY PACKAGE

Lee & Associates presents two value-add opportunities: a 27-unit multifamily property located at 3025 Meredith Ave, Omaha, NE 68111, and a neighboring fourplex. Both properties are currently cash-flowing with the potential for increased profitability. The 27-unit building, dating back to the 1960s, consists mostly of one-bedroom units, with recent renovations in 11 units achieving rents of $800 per month.
The fourplex at 4738 N 38th St, Omaha, NE 68111, includes three one-bedroom, one-bath units and one two-bedroom, one-bath unit, generating $2,912 per month, with tenants contributing to utility costs. There is room to improve the asset value, making it a strong complement to the Meredith Avenue property.
This package includes amenities like off-street parking, a laundry room, a property management office, and a fully integrated security system. This investment offers potential for further renovations and value appreciation, especially with government-supported exterior updates and an assignable insurance claim. The properties are located in a well-established residential neighborhood with access to parks, schools, and public transportation, benefiting from ongoing revitalization efforts.

INVESTMENT STRATEGY
This property offers a value-add opportunity with significant potential for renovation and increased property value. Government programs are actively supporting exterior renovations in the area, enhancing the appeal. Additionally, the sale includes a proposed assignable insurance claim, further boosting the asset’s potential. Investors can also raise the property's value by updating the interiors and leasing units at market rates, currently estimated at $800 across the property. This portfolio is particularly well-suited for investors working with nonprofits or government-assisted subsidy programs, along with a visionary looking for a grant project.