1624 Garfield St
Lincoln, NE 68502
Purchase Price
$635,000
Cap Rate
8.68%
Property Type
Multifamily
Rentable Square Feet
5,968
Price per Unit
$79,375.00
Number of Units
8
Floors
2
Zoning
R6
APN
10-36-108-017-000
Property Description
The apartments at 1624 Garfield Street represents a rare value-add opportunity in Lincoln's most dynamic housing market—an eight-unit low rise style apartment community positioned to capture sustained demand from the region's robust employment base and housing shortage. Built in 1984 and maintained through successive ownership, this property offers immediate operational cash flow (8.4% cap rate) with upside potential through strategic unit-level renovations and activation of currently underutilized laundry amenities. With a clear path to 9.56%+ stabilized returns, this investment combines downside protection with meaningful upside within Lincoln's constrained multifamily market.
Presented by
Jim Sanderson, CCIM
20160273, Nebraska
jim.sanderson@ccim.net
Stephen Sykes
402-639-6278
stephen@cascademultifamily.com
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.
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