Cathedral Cottage | 816 N 36th St
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Cathedral Cottage 816 N 36th St
19 Unit Apartment Building $1,850,000 ($97,368/Unit) 8% Cap Rate Omaha, NE 68131
Investment Highlights
- Walking distance to Creighton University
- Historical District - Charming, Luxurious, & Excellent Condition Units Each w/ Front & Back Entrances
- No Code Violations - Just passed City Inspection!
- Raise Rents for Equity Opportunity
Executive Summary
Immaculate all-brick Tudor-style apartment complex located in one of the most prime locations in Omaha! Tucked between Midtown, Bemis Park, & Creighton University all 18 spacious units are easy to keep occupied. You'll find hardwood floors, walk-in closets, & full baths in most units, LVT & 10ft ceilings in others, & old-world charm & ample storage in them all. Separately metered; Tenants cover own gas & electric; Landlord pays water & heat with updated Lochivar boiler system. Top-of-the-line architect-style roof new in 2016 with 50 year transf. warranty & gutter guards. All windows are less than 10 yrs old with transf. lifetime warranty. Coin-operated Laundry on-site brings in extra income. All kitchen appliances & window A/C units are less than 4yo! Private courtyard, beautifully landscaped, offers serenity to Tenants, bus stop at corner for convenience, & street parking for vehicles. No code violations here - just recently passed city inspections!! P&L available. (2-bdm unit is being used as storage - can be convert back to apt.) Property was self managed & could easily bring in a 11% CAP. Agent related to Seller
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,850,000 | Apartment Style | Low Rise |
| Price Per Unit | $97,368 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.62 AC |
| Cap Rate | 8% | Building Size | 12,831 SF |
| Gross Rent Multiplier | 0.82 | Average Occupancy | 94% |
| No. Units | 19 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1945 |
| Property Subtype | Apartment |
| Price | $1,850,000 |
| Price Per Unit | $97,368 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Gross Rent Multiplier | 0.82 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.62 AC |
| Building Size | 12,831 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1945 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Crown Molding
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Deck
- Dining Room
- Double Pane Windows
- Family Room
- Lawn
- Patio
- Porch
- Smoke Free
- Window Coverings
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Gas Range
- Smoke Free
- Trash Pickup - Curbside
- Vintage Building
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $925.00 | 720 |
| 2+1 | 1 | $1,175 | 800 |
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 4283-0000-16 | Total Assessment | $737,900 |
| Land Assessment | $54,400 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $683,500 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4283-0000-16
Land Assessment
$54,400
Improvements Assessment
$683,500
Total Assessment
$737,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R7 (Multi-Family Residential Development) |
| R7 (Multi-Family Residential Development) |
-
Annali Leach -
BHHS Ambassador Real Estate
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Cathedral Cottage | 816 N 36th St
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