41-Unit Apartment
For Sale
Contact for pricing
120 S 36th Street, Omaha, NE 68131
Multifamily community with established nearby hospitality, dining, and entertainment destinations.
Property Size31,443 SF
Price / SF$125.62
Days on Market8
Property Features for 120 S 36th Street
General Information
Standard status
Active
Size
31,443 SF
Total Parking Spaces
39
Property subtype
Multifamily
Zoning
R8-ACI-1(PL)
Occupancy
90%
Investment Type
Value Add
Net Operating Income
$286,409
Additional Details
Multifamily Units
41
Building Details
Year Built
1974
Buildings
1
Stories
2
Units
41
Tenancy
Multi
Listing Agency:
Oak Investment Real Estate
(913) 669-7880
Listed By:
John Heine · License #NE 20051167
Source:
Crexi
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 4 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Oak Investment Real Estate
Investment Insights
Based on property information with market context.
This 41-unit apartment property contains 31,443 square feet and was constructed in 1974. The asset is situated within Omaha’s Blackstone area and carries R8-ACI-1(PL) zoning.
The property is near 36th and Farnam and directly across from the Kimpton Cottonwood Hotel, The Committee Chophouse, Crescent Moon, and HomeGrown. It is also positioned along Omaha’s future streetcar route, connecting the property with a planned transit corridor serving Downtown Omaha.
The property is near 36th and Farnam and directly across from the Kimpton Cottonwood Hotel, The Committee Chophouse, Crescent Moon, and HomeGrown. It is also positioned along Omaha’s future streetcar route, connecting the property with a planned transit corridor serving Downtown Omaha.
Key Highlights
- 41‑unit apartment property
- 31,443 square feet
- Built in 1974
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $498.1k | $15.84 |
| − Vacancy | −$37.4k | −$1.19 |
| EGI | $460.7k | $14.65 |
| − OpEx | −$207.3k | −$6.59 |
| NOI | $253.4k | $8.06 |
31,443 SF · lease $15.84/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.62M
$3.17M – $4.22M
NOI $253,387 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.27M
$7.24M – $9.65M
NOI $579,074 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
41
Residential units
Location Intelligence
Trade Area within ½ mile
2,637
Businesses Nearby
Explore this area
Business Placement
Demographics for 68131, NE
13,609
Population
7,861
Households
1.7
Avg Household Size
29
Median Age
46%
College-Educated
91%
High-School Grad
2.1 sq mi
ZIP Area
6,480
Density / Sq Mi
$47,800
Median Household Income
$30,808
Median Earnings
$1,081
Median Rent
$224,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily community with established nearby hospitality, dining, and entertainment destinations.
Where is this apartment building located?
The property is located at 120 S 36th Street Omaha, NE.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 41‑unit apartment property; 31,443 square feet; Built in 1974
