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    401 S 38Th Ave Omaha, NE 68131

    For Sale
    $650,000

    Multi-Family - Omaha, NE

    Type:Multi Family
    Days on Market:
    86
    Last Refresh:
    Dec 13 at 6:06 am

    Property Features for 401 S 38Th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    6
    Bathrooms
    6
    APN
    1310860000
    Parking
    7
    Basement Y/N
    1

    Utilities

    Heating system
    Natural Gas, Radiant

    Building Details

    Year built
    1910
    Number of units
    6
    Architectural style
    Other

    BHHS Ambassador Real Estate (402) 493-4663 [email protected]

    Listing agent Mike Tesnar (402) 493-4663 License #20130096

    Listing date Sep 19, 2025

    MLS# 22513246 Listing URL

    Copyright © 2025 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

    Historic 6-Plex Near Blackstone

    Located one block from the Blackstone District and the future Omaha Streetcar line, this historic 6-plex at 401 S 38th Ave in Omaha, NE, presents a unique investment opportunity. The property, built by Louis Kirschbraun of Kirschbraun & Sons Creamery, is on the National Register of Historic Places and has been converted into six rental units, comprising four one-bed, one-bath apartments and two studio units. The property's location is near Nebraska Medicine, UNMC, and Midtown Crossing, making it suitable for both long-term tenants and short-term rentals. The property is located in a walkable urban setting. The rents are currently below market value, offering potential for increased income through updates or repositioning. This property offers the opportunity to increase income through Airbnb or traditional leasing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Satterly Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9702642
    Latitude
    41.2571111

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    FAQs

    What type of property is this?
    Apartment building - Historic 6-unit multi-family property near Blackstone District and Nebraska Medicine.
    Where is this apartment building located?
    The property is located at 401 S 38Th Ave Omaha, NE.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Prime location: Just one block from the Blackstone District and the future Omaha Streetcar line, near Nebraska Medicine, UNMC, and Midtown Crossing.; - Historic property: Built by Louis Kirschbraun and listed on the National Register of Historic Places.; - Income potential: Configured as a 6-plex with 4 one-bed/one-bath apartments and 2 studio units.
    (402) 493-4663
    Request Owner's contact information
    401 S 38Th Ave Omaha, NE 68131
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    Omaha, NE 68131
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    Realmo Value Estimation

    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.

    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.

    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
    401 S 38Th Ave Omaha, NE 68131
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