Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1228 E Street Lincoln, NE 68508

    View on Map
    New
    For Sale
    $769,900

    Multi-Family - Lincoln, NE

    Type:Multi Family
    Added:
    Apr 4, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 4 at 6:06 pm

    Property Features for 1228 E Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Rooms
    Kitchen, Living Room
    Parking
    12
    Patio and Porch features
    Porch
    Interior features
    Laundry Facilities
    Exterior features
    Porch, Iron Fencing
    Fencing
    Fenced
    Appliances
    Cooktop, Range, Refrigerator
    Standard status
    Active
    APN
    10-26-411-012-000

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7872

    Utilities

    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1979
    Number of units
    12
    Building materials
    Aluminum Siding
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jill Heng

    Listing agent Jill Heng

    Listing office Nebraska Realty 7321 Plaza Ct, Lincoln, NE

    Listing date Apr 4, 2026

    MLS# 22608934 Listing URL

    Copyright © 2026 Great Plains Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lincoln Multifamily Investment Opportunity

    This 12-plex apartment building is located near shopping areas, a college campus, and the Haymarket District. The property features twelve units, each with one bedroom and one bathroom. Current rents range from $665 to $775. There is one vacancy. The property includes on-site laundry facilities and twelve paved parking stalls. A new roof will be installed prior to closing. The property is intended as an investment property. When fully rented at market rate, the property should gross $108,000 rent per year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.7032895
    Latitude
    40.8039776

    Nearby Similar for Sale

    • $650,000

      Lincoln Multifamily Investment Opportunity

      Multifamily property with eight units in central Lincoln.
      2410 South Street, Lincoln, NE 68502
      View Details
    • $535,000

      Turnkey Lincoln 4-Plex Investment

      Fully renovated 4-unit property near Nebraska Wesleyan University.
      4220 Huntington Avenue, Lincoln, NE 68504
      View Details
    • $314,900

      Lincoln Duplex with Income Potential

      Well-maintained duplex in South Lincoln, fully rented and conveniently located.
      3900 Sweetbriar Lane, Lincoln, NE 68516
      View Details
    • $314,900

      South Lincoln Duplex For Sale

      Well-maintained duplex in South Lincoln near shopping and entertainment.
      3920 Sweetbriar Lane, Lincoln, NE 68516
      View Details
    • $850,000

      Lincoln Investment 10-Plex Opportunity

      Well-maintained 10-unit multi-family property with consistent cash flow.
      611 S 20th Street, Lincoln, NE 68510
      View Details
    • $850,000
      5,130 SF

      Downtown Flex Building with Overhead Door

      Versatile 5,130 SF flex building in Downtown Lincoln.
      1029 M St, Lincoln, NE 68508
      View Details
    • $399,000

      Furnished Multi-Family Home, Lincoln

      Turn-key, furnished multi-family home in Southwest Lincoln.
      7231 S 30th Place, Lincoln, NE 68516
      View Details
    • $449,000

      Lincoln Multifamily Property For Sale

      Four-unit multifamily property in Lincoln, Nebraska, with garages.
      2930 N Street, Lincoln, NE 68510
      View Details
    • $685,000

      Remodeled Multifamily Investment Property

      Six-unit multifamily building with updated interiors and reliable cash flow.
      349 S 26th Street, Lincoln, NE 68510
      View Details
    • $725,000
      2,709 SF

      Lincoln Retail NNN Investment Opportunity

      Single-tenant NNN retail property in Lincoln, Nebraska for sale.
      2811 N 48th St, Lincoln, NE 68504
      View Details
    • $312,000
      1,904 SF

      Lincoln Fourplex Near University Campus

      Well-maintained fourplex near university campuses and downtown Lincoln.
      2726 W Street, Lincoln, NE 68503
      View Details
    • $685,000

      Remodeled 6-Unit Multifamily Investment

      Turnkey 6-unit multifamily property with modernized units and reliable rentability.
      335 S 26th Street, Lincoln, NE 68510
      View Details

    FAQs

    What type of property is this?
    Apartment building - 12-unit apartment building near shopping, campus, and Haymarket District.
    Where is this apartment building located?
    The property is located at 1228 E Street Lincoln, NE.
    What is the asking price?
    The asking price for this property is $769,900.
    (402) 416-3814
    We can help!
    Listing Contact
    Jill Heng
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!