519 North St Ponca, NE 68770

This exceptional 8-unit apartment building in Ponca, Nebraska presents a compelling investment opportunity. Completely renovated in 2022, the property boasts 6,400 square feet of net rentable space, currently 100% occupied, generating a $40,000 annual NOI (with a pro-forma NOI of $50,000). Each of the eight two-bedroom units features updated bathrooms with modern fixtures, luxury vinyl tile flooring, new lighting, and fresh paint. Common areas received new paint and flooring in 2024. The roof was replaced in 2020. The property includes eight parking spaces. Located at 519 E. North St., this Class B building offers a strong rental demand due to its location in a thriving small town with easy access to amenities and Sioux City, IA. The property's recent renovations minimize maintenance needs, ensuring a low-maintenance investment with immediate and stable cash flow. Built in 1982, this property is priced at $800,000 ($100,000 per unit) and offers a 5% cap rate (6.25% pro-forma). Ponca's welcoming community, excellent schools, and low crime rate contribute to high tenant retention and strong rental income. This turnkey property is ideal for investors seeking immediate returns and long-term growth potential.