7270 Cedar St Omaha, NE 68124-2310

This exceptional 187-unit apartment building in Omaha, Nebraska presents a unique multifamily conversion opportunity. Located at 7270 Cedar Street, this six-story, 138,926 square foot property sits on a generous 3.7-acre lot and offers significant upside potential. Originally built in 1973 as a hotel, the property boasts extensive existing amenities including a pool, hot tub, cafe, bar, and a large courtyard. The current zoning is R-8, allowing for high-density residential use, perfectly suited for capitalizing on its proximity to the University of Nebraska-Omaha and College of Saint Mary, as well as the Aksarben Village and CHI Health Bergan Mercy Campus. With 211 parking spaces and a compelling asking price of $6,950,000 ($37,166 per unit), this property offers a rare chance to acquire a substantial asset below replacement cost. The existing infrastructure and amenities provide a strong foundation for a successful multifamily conversion, promising significant returns for the astute investor. This prime location and substantial size make this an unparalleled investment opportunity in a thriving Omaha neighborhood.