4505 Lafayette AveOmaha, NE 68132

Property Details for 4505 Lafayette Ave

Year built

1964

Construction

FRAME

Lot size

0.17 AC

Property size (Sq ft)

4,616 SF

Property type

Other commercial real estate

APN

2407340000

APU

2407340000

Description

This exceptional value-add multifamily investment opportunity presents a 12-unit apartment building located at 4505 Lafayette Ave, Omaha, Nebraska, 68132. The property, known as The Halford Apartments, boasts 6,760 square feet of net rentable space within a 6,924-square-foot building situated on a 0.17-acre lot. Built in 1964 and renovated in 2021, the building features 11 one-bedroom, one-bathroom units and one studio unit. Each unit includes updated kitchens and bathrooms, private entry, and laminate flooring. Residents enjoy convenient on-site laundry facilities and access to nine parking spaces. The property currently has 58.33% occupancy as of January 21, 2024, and offers a pro-forma NOI of $62,044 and a pro-forma cap rate of 9.56%. The asking price is $649,000, translating to $54,083.33 per unit and $93.73 per square foot. The property is zoned R7, situated in a desirable location between the Dundee and Benson neighborhoods, known for a mix of multifamily, residential, and retail properties. This presents a strong opportunity for an experienced operator to increase cash flow through higher rents and improved occupancy. The property's location benefits from proximity to new construction projects, reflecting the area's growth and appeal within Omaha's rental market. The land value is estimated at $4,705,882 per acre. This is a prime opportunity to acquire a well-positioned asset with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $763,258

  Hospitality

  $699,140

  Educational

  $581,676

  Medical

  $601,681

  Retail

  $904,830

Location Insight

City

Omaha

County

Douglas

State

Nebraska

Latitude

41.2708

Longitude

-95.9809

CBSA code

36540

CBSA name

OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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