Multifamily Community with Detached
7301 Corby Street Omaha, NE 68134
7301 Corby Street, Omaha, NE, 68134
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For Sale
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36-unit apartment community with detached garages and a mix of one- and two-bedroom units for renter-ready income.
Property Size24,685 SF
Lot Size1.04 Acres
Price / SF$135.71
Days on Market55
Property Features for 7301 Corby Street
General Information
- Standard status
- Active
- Size
- 24,685 SF
- Lot size
- 1.04 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing agency
Marcus & Millichap - Denver
Listed by
Adam Lewis · License #NE. 20250136
Source
Crexi
Added: May 29 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 3:16PM
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 Marcus & Millichap - Denver
Investment Insights
Based on property information with market context.
Corby Street Apartments is a 36-unit multifamily community built in 1969, situated on a 1.04-acre site at 7301 Corby Street in northwest Omaha. The property includes 9 income-generating detached garages and offers a balanced unit mix of 22 one-bedroom units and 14 two-bedroom units. Reported unit sizes average approximately 625 square feet for one-bedroom homes and approximately 781 square feet for two-bedroom homes.
The community is located within an established residential corridor with convenient access to major employment centers, retail amenities, healthcare facilities, and regional transportation routes. It is near major thoroughfares including Interstate 680 and Dodge Street, supporting connectivity to Downtown Omaha, West Omaha, and other metro employment nodes.
For prospective buyers, Corby Street Apartments presents a straightforward, existing rental housing platform with both garage revenue and 1- and 2-bedroom demand coverage. The current rent position is approximately 14.4% below the highest achieved in-place rents at the property, and the remarks indicate meaningful embedded upside through interior upgrades, operational improvements, and rent optimization toward projected levels. Overall, the asset is positioned for long-term ownership in a well-connected Omaha submarket with durable renter demand drivers.
The community is located within an established residential corridor with convenient access to major employment centers, retail amenities, healthcare facilities, and regional transportation routes. It is near major thoroughfares including Interstate 680 and Dodge Street, supporting connectivity to Downtown Omaha, West Omaha, and other metro employment nodes.
For prospective buyers, Corby Street Apartments presents a straightforward, existing rental housing platform with both garage revenue and 1- and 2-bedroom demand coverage. The current rent position is approximately 14.4% below the highest achieved in-place rents at the property, and the remarks indicate meaningful embedded upside through interior upgrades, operational improvements, and rent optimization toward projected levels. Overall, the asset is positioned for long-term ownership in a well-connected Omaha submarket with durable renter demand drivers.
Key Highlights
- 36‑unit multifamily community built in 1969 on a 1.04‑acre site in northwest Omaha
- Unit mix includes 22 one‑bedroom units (~625 SF) and 14 two‑bedroom units (~781 SF)
- Features 9 income‑generating detached garages on‑site
Local 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 | $391.0k | $15.84 |
| − Vacancy | −$29.3k | −$1.19 |
| EGI | $361.7k | $14.65 |
| − OpEx | −$162.8k | −$6.59 |
| NOI | $198.9k | $8.06 |
24,685 SF · lease $15.84/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.84M
$2.49M – $3.32M
NOI $198,927 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.58M
NOI $454,615 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Corby Street Apartments
Apartment Complex
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FAQs
What type of property is this?
Apartment building - 36-unit apartment community with detached garages and a mix of one- and two-bedroom units for renter-ready income.
Where is this apartment building located?
The property is located at 7301 Corby Street Omaha, NE.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 36‑unit multifamily community built in 1969 on a 1.04‑acre site in northwest Omaha; Unit mix includes 22 one‑bedroom units (~625 SF) and 14 two‑bedroom units (~781 SF); Features 9 income‑generating detached garages on‑site
