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    1927 Colfax St Blair, NE 68008

    For Sale
    $260,000

    High-yield multifamily property; excellent ROI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional five-unit multifamily investment opportunity is located at 1927 Colfax St, Blair, Nebraska, 68008. The property, built in 1900, boasts a two-story structure situated on a spacious 13,500 square foot lot. The portfolio includes five rental units: one studio, two one-bedroom, and two two-bedroom units, each with one bathroom and equipped with a refrigerator and range/oven. Currently operating at 100% occupancy since October 1, 2001, the property generates a substantial net operating income (NOI) of $21,429, resulting in an attractive 8.24% capitalization rate. The asking price is $260,000. A detached garage and a shared laundry area add to the property's appeal. Tenants are responsible for their own utilities. Recent improvements include a new roof on both the main building and the garage. Several units have undergone updates. The seller provides a 2023 profit and loss report for transparency and due diligence. The gross monthly rent is approximately $2,800. This property presents a strong cash-flowing investment with significant upside potential. The property's location in Blair, Nebraska offers a stable rental market. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property with a proven track record.

    Property Features for 1927 Colfax St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1900
    Stories
    2
    Units
    5

    HighLights

    • $260,000 asking price for a 5‑unit multifamily property.
    • 8.24% cap rate with a $21,429 Net Operating Income (NOI).
    • 100% occupancy.
    • Located at 1927 Colfax St, Blair, NE 68008.
    • Five units: one studio, two one‑bedroom, and two two‑bedroom units; all with one bath and kitchen appliances.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    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
    Blair
    County
    Washington
    State
    Nebraska
    Longitude
    -96.1416599
    Latitude
    41.5405127

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    FAQs

    What type of property is this?
    Multifamily property - High-yield multifamily property; excellent ROI.
    Where is this multifamily property located?
    The property is located at 1927 Colfax St Blair, NE.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: $260,000 asking price for a 5-unit multifamily property.; 8.24% cap rate with a $21,429 Net Operating Income (NOI).; 100% occupancy.
    (402) 426-5619
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    1927 Colfax St Blair, NE 68008
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    Blair, NE 68008
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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
    1927 Colfax St Blair, NE 68008
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