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    13-Unit Apartment Building Title is generated by Realmo AI

    421 Capitol Beach Boulevard, Lincoln, NE 68528

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    For Sale
    $1,295,000

    Multi-Family - Lincoln, NE

    Type:Multi Family
    Added:
    May 4, 2026
    Days on Market:
    33
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 421 Capitol Beach Boulevard

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Parking
    22
    Interior features
    Accessible, Laundry Facilities, Zero Step Entry
    Exterior features
    Accessible, Zero Step Entry
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Cooktop, Range, Refrigerator
    Standard status
    Active
    APN
    10-21-416-013-000

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11600

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1974
    Number of units
    13
    Building materials
    Brick, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Tim Woosley

    Listing agent Tim Woosley

    Listing office Nebraska Realty 7321 Plaza Ct, Lincoln, NE

    Listing date May 4, 2026

    MLS# 22615773 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

    • 13‑unit value‑add multifamily property with mix of six 1‑bedroom, six 2‑bedroom, and one efficiency unit
    • Three vacant units offer immediate lease‑up opportunity
    • All units are all‑electric; tenants pay electric service, while ownership pays water, sewer, and trash
    • 22 off‑street parking spaces plus on‑site laundry and storage units
    • Six zero‑entry units with accessible approach with ramp and zero step entry
    • Offered at $1,295,000; built in 1974 with brick slab‑on‑grade construction and forced‑air natural gas heating

    Overview

    This 13-unit apartment building offers a practical mix of six 1-bedroom units, six 2-bedroom units, and one efficiency unit. Three units are currently vacant, creating immediate opportunities for occupancy and rent-up. The building is slab-on-grade and features on-site laundry along with individual storage units. The unit configuration includes six zero-entry units.

    The property is located near Capitol Beach and downtown Lincoln. Parking is available with 22 off-street spaces. Tenants are responsible for electric service in an all-electric setup, while the owner pays water, sewer, and trash.

    Leasing is supported by a majority month-to-month approach, which can provide flexibility for operational changes as units turnover. A landlord-managed Allo Internet program is in place and provides additional owner income. For buyers seeking a multifamily asset with an existing unit mix, supported resident services, and multiple vacancies to address, this offering combines established onsite amenities with a straightforward repositioning path.
    Property Profile 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 Gym & Fitness Center Accounting Firm Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.7401055
    Latitude
    40.8171559

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    FAQs

    What type of property is this?
    Apartment building - Thirteen all-electric units with parking, on-site laundry, and three vacancies for immediate leasing.
    Where is this apartment building located?
    The property is located at 421 Capitol Beach Boulevard Lincoln, NE.
    What is the asking price?
    The asking price for this property is $1,295,000.
    What are key features of this property?
    This property features: 13‑unit value‑add multifamily property with mix of six 1‑bedroom, six 2‑bedroom, and one efficiency unit; Three vacant units offer immediate lease‑up opportunity; All units are all‑electric; tenants pay electric service, while ownership pays water, sewer, and trash
    (402) 570-1661
    We can help!
    Listing Contact
    Tim Woosley
    Request Owner's contact information
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    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.

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