Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Omaha Multi-Unit Investment Opportunity Title is generated by Realmo AI

    1618 S 32 Avenue, Omaha, NE 68105

    View on Map
    Claim this Listing
    For Sale
    $399,000

    Multi-Family - Omaha, NE

    Type:Multi Family
    Added:
    Mar 27, 2026
    Days on Market:
    47
    Last Refresh:
    May 12 at 6:06 am

    Property Features for 1618 S 32 Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Bedrooms
    5
    Rooms
    Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    6
    Patio and Porch features
    Porch
    Interior features
    9'+ Ceiling, Laundry Facilities
    Exterior features
    Porch, Wood Fencing
    Fencing
    Fenced, Wood
    Basement Y/N
    1
    Appliances
    Cooktop, Range, Refrigerator
    Standard status
    Active
    APN
    1236950000

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6964

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1890
    Number of units
    5
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Marie Pringle

    Listing agent Lisa Marie Pringle License #20150747

    Listing office Better Homes and Gardens R.E. 4949 Underwood Ave, Omaha, NE

    Listing date Mar 27, 2026

    MLS# 22608141 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.

    HighLights

    • Prime location directly across from Hanscom Park in the Historic Field Club neighborhood.
    • Well‑maintained five‑unit conversion with a strong rental history.
    • Ample off‑street parking and a garage.
    • Separate egress for each unit.
    • Spacious floor plans.
    • Shared laundry facilities on site.

    Overview

    This well-maintained five-unit conversion is located in the heart of the Historic Field Club neighborhood in Omaha. The property is ideally situated directly across from Hanscom Park, offering tenants walkable access to green space, trails, and recreation areas. The surrounding Field Club area provides additional charm. This investment property includes ample off-street parking, a garage, and separate egress for each unit. Shared laundry facilities are available on site. The property features spacious floor plans and a strong history of rental demand in this desirable historic district. Unit #2 is currently vacant and available for showings, while all other units are tenant-occupied. This property presents a great opportunity for investors seeking a centrally located, stable multi-unit property in a high-demand area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9606371
    Latitude
    41.243673

    Nearby Similar for Sale

    • $365,000
      988 SF

      Stabilized Duplex in Quiet Neighborhood

      Fully stabilized duplex with recent renovations and long-term tenants.
      1811 N 110th ST, Omaha, NE 68154
      View Details
    • $550,000

      Charming Duplex in Prime Location

      Well-maintained 1899 duplex in a sought-after, walkable neighborhood.
      5012 Cass Street, Omaha, NE 68132
      View Details
    • $375,000

      Omaha 6-Plex Investment Opportunity

      Well-maintained, fully occupied 6-plex in desirable Hanscom Park neighborhood.
      1738 South 32Nd Avenue, Omaha, NE 68105
      View Details
    • $825,000

      Omaha Brick Duplex Opportunity

      Stunning duplex ideal for rentals or multi-generational living.
      5114 Dodge Street, Omaha, NE 68132
      View Details
    • $469,000

      Omaha Multi-Family Investment Opportunity

      Duplex in a convenient location with income potential.
      10804 Borman Avenue, Omaha, NE 68137
      View Details
    • $400,000

      Omaha Triplex with Income Potential

      Triplex near amenities with long-term tenants and Airbnb income.
      3206 S 23 Street, Omaha, NE 68108
      View Details
    • $650,000

      Meticulously Maintained Townhome Building

      Four units in high-demand rental location with upside potential.
      2821 S 134th Avenue, Omaha, NE 68144
      View Details
    • $470,000

      Leased Duplex Near Western Hills

      Fully-leased duplex near Western Hills Elementary and Dundee and Benson Districts.
      6527 & 6529 Lafayette Avenue, Omaha, NE 68132
      View Details
    • $579,000

      Renovated Multifamily Investment Property

      Fully renovated, furnished 8-unit multifamily property near UNMC/Nebraska Medicine.
      1120 Park Avenue, Omaha, NE 68105
      View Details
    • $609,000

      Benson Mixed-Use Triplex

      Updated triplex with commercial space in vibrant Benson district.
      5519 NW Radial Highway, Omaha, NE 68104
      View Details
    • $670,000

      Carefree Duplex in Elkhorn Schools

      8 bed, 8 bath duplex near 168th & West Dodge.
      17069 Nicholas Street, Omaha, NE 68118
      View Details
    • $390,000

      Remodeled Duplex in Dundee Neighborhood

      Charming, remodeled duplex in Omaha's desirable Dundee neighborhood.
      825-827 N 47th Street, Omaha, NE 68132
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained five-unit property in the Historic Field Club neighborhood.
    Where is this apartment building located?
    The property is located at 1618 S 32 Avenue Omaha, NE.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime location directly across from Hanscom Park in the Historic Field Club neighborhood.; Well‑maintained five‑unit conversion with a strong rental history.; Ample off‑street parking and a garage.
    (402) 660-9078
    We can help!
    Listing Contact
    Lisa Marie Pringle
    Real Estate License ID: 20150747
    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

    Thank You for Inquiry
    1618 S 32 Avenue, Omaha, NE 68105-9999
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!