Leased Triplex with
For Sale
$275,000
2312 Washington Street, Lincoln, NE 68502
RESIDENTIAL, 2.5 Story, Lincoln, NE
Property Size2,437 SF
Lot Size0.16 Acres
Price / SF$112.84
Days on Market110
Property Features for 2312 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Laundry Room, Bathroom 3, Basement, Bedroom 2, Bedroom 4, Bathroom 1
Parking features
Garage - Detached
Patio and Porch features
Deck, Porch
Exterior features
Deck/Balcony, Porch
Subdivision
Near South
Elementary school
Prescott
Middle school
Irving
High school
Lincoln High
Elementary school district
Lincoln Public Schools
Middle school district
Lincoln Public Schools
High school district
Lincoln Public Schools
Directions
Use GPS
Standard status
Active
APN
10-36-203-004-000
Size
2,437 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLEASANT HILL SUBDIVISION, BLOCK 1, Lot 6, E43' & W5' LOT 7
Tax Annual Amount
2292
Legal Description
PLEASANT HILL SUBDIVISION, BLOCK 1, Lot 6, E43' & W5' LOT 7
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1918
Floors in Building
3
Architectural style
Other
Listing Agency:
Nebraska Realty
(402) 413-8000
Listed By:
Leah Millspaugh
(402) 610-5427
Added: Jun 26
Changed: Oct 12
Last Checked: Oct 13 at 3:06PM
MLS# 22618338
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.
Investment Insights
Based on property information with market context.
This 2,437-square-foot triplex contains two two-bedroom units and one one-bedroom unit, providing three residential layouts within the property. The building includes three bathrooms, a laundry room, and a basement, along with a deck and porch. Heating is provided by forced air, and the property has central air conditioning.
Built in 1918, the property occupies 0.16 acres and includes two detached garage stalls. All three units are currently leased. The property is located at 2312 Washington Street in Lincoln, Nebraska 68502.
Built in 1918, the property occupies 0.16 acres and includes two detached garage stalls. All three units are currently leased. The property is located at 2312 Washington Street in Lincoln, Nebraska 68502.
Key Highlights
- Three‑unit configuration with two 2‑bedroom units and one 1‑bedroom unit
- 2,437 square feet on a 0.16‑acre lot
- All units currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,181
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,620
$483.6K
Cap Rate 7%
$345,443
$345.4K
Cap Rate 9%
$268,678
$268.7K
Market Conditions
NOI Build-Up for 2,437 SF
Gross rent
$36.6K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.5K $14.17/SF
− OpEx
−$10.4K −$4.25/SF
NOI
$24.2K $9.92/SF
Area
Lincoln, NE
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,620
Cap Rate 7%
$345,443
Cap Rate 9%
$268,678
Alternative Uses
Best Use
Multifamily LT 5
$345.4K
$302.3K – $403.0K
NOI $24,181 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$320.9K
$280.8K – $374.4K
NOI $22,462 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$597.4K
$522.8K – $697.0K
NOI $41,821 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 68502, NE
27,238
Population
11,936
Households
2.3
Avg Household Size
36
Median Age
39%
College-Educated
90%
High-School Grad
6.7 sq mi
ZIP Area
4,065
Density / Sq Mi
$65,825
Median Household Income
$39,168
Median Earnings
$812
Median Rent
$220,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with detached garage parking, porches, and central air.
Where is this triplex located?
The property is located at 2312 Washington Street Lincoln, NE.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom units and one 1‑bedroom unit; 2,437 square feet on a 0.16‑acre lot; All units currently leased
