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620 Capitol Avenue

Lincoln, NE 68502
  • $13,500,000
  • STATUS: Active
  • MLS #: 22224279
UPDATED: 77 min ago
$13,500,000
  • 0
    BEDS
  • Over 1 up to 5 Acres
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1975
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

CAPITOL VIEW APARTMENTS - This income producing multifamily complex has 11 buildings including 180 apartments, 17 garages, and an in-ground pool. Adjacent to Lincolns growing Telegraph District and just blocks from the University of Nebraska campus and a high school, these brick buildings are basically "bunkers" constructed with cement floors and ceilings. 40% of units have been updated. In-Place Cap Rate 4.6%. Stabilized Cap Rate 7.5%. Current NOI $651,520. Newer leases are being signed for 13% higher than existing leases. 2BR=83 units. 1BR=94 units. Studio=3 units. Pricing guidance is $14,000,000 which is $77K/Unit and stabilizes this property at a 7.53% cap in year 3. Must be sold as a package of 11 buildings. Well maintained. Property Manager is willing to continue services.

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Listing information © 2022 Great Plains Regional MLS. The information relating to real estate for sale on this website comes from the Internet Data Exchange program of the Great Plains Regional MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate by the MLS or Sit Stay Homes. Data last updated 2022-11-28T09:33:27.727.
www.sitstayhomes.com/homes/133766313
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620 Capitol Avenue Lincoln, NE 68502

  • Price: $13,500,000
  • Status: Active
  • On Site: Days
  • Updated: 77 min ago
  • MLS #: 22224279
0
Beds
0
Baths
0
½ Baths
Over 1 up to 5 Acres
Acres
1975
Built
Neighborhood:
Telegraph District
County:
Lancaster
Area:
Lancaster
Elementary School:
Elliott
Middle School:
Lefler
High School:
Lincoln High
School District:
Lincoln
Property Description
CAPITOL VIEW APARTMENTS - This income producing multifamily complex has 11 buildings including 180 apartments, 17 garages, and an in-ground pool. Adjacent to Lincolns growing Telegraph District and just blocks from the University of Nebraska campus and a high school, these brick buildings are basically "bunkers" constructed with cement floors and ceilings. 40% of units have been updated. In-Place Cap Rate 4.6%. Stabilized Cap Rate 7.5%. Current NOI $651,520. Newer leases are being signed for 13% higher than existing leases. 2BR=83 units. 1BR=94 units. Studio=3 units. Pricing guidance is $14,000,000 which is $77K/Unit and stabilizes this property at a 7.53% cap in year 3. Must be sold as a package of 11 buildings. Well maintained. Property Manager is willing to continue services.
Exterior Features

Fence None Garage Type Detached Lot Dimensions See County Assessor Website Parking Spaces 150

Interior Features

Basement Yes Bedrooms U1 2 Bedrooms U2 1 Bedrooms U3 0 Cooling Central Air Foundation Poured Concrete Full Baths U1 1 Full Baths U2 1 Full Baths U3 1 Heating Fuel ElectricGas Heating Type Forced Air Walk Out Basement No

Property Features

Agent Has Equity Yes Annual Expense Source Pro Forma Available Assessments No Conversion No Monthly Rent U1 825 Monthly Rent U2 725 Monthly Rent U3 600 Multifamily Type Multi-Family New Construction Not New And Not A Model Occupied U1 Tenant Occupied U2 Tenant Occupied U3 Tenant Ownership Type Fee Simple REO No Sewer And Water Public Water Special Assessments No Tax Amount 0 Tax Year 2021 Units U1 83 Units U2 94 Units U3 3

Listing information © 2022 Great Plains Regional MLS.
Listing provided by Katie Bodie Cervantes of Casa Property Management: [IDXCONTACTINFORMATION].


Listing information © 2022 Great Plains Regional MLS. The information relating to real estate for sale on this website comes from the Internet Data Exchange program of the Great Plains Regional MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate by the MLS or Sit Stay Homes. Data last updated 2022-11-28T09:33:27.727.
 
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