3524 Dewey AveOmaha, NE 68105

Property Details for 3524 Dewey Ave

Year built

1953

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.15 AC

Property size (Sq ft)

2,848 SF

Property type

Apartment buildings

APN

2112630003

APU

2112630003

Description

This exceptional investment opportunity presents a 4-unit apartment building located at 3524 Dewey Avenue in Omaha, Nebraska's vibrant Midtown neighborhood. The property, built in 1953, comprises a two-story building totaling 3,548 square feet on a 6,750 square foot lot. Currently operating at 100% occupancy, the property offers four units, each priced at $137,500, with a total asking price of $550,000 ($155.02 per square foot). The property is classified as a Class C multifamily building and zoned R7-ACI-1(PL), presenting significant value-add potential for investors. Its prime location offers easy access to the Blackstone District, UNMC, and Midtown Crossing, ensuring high demand and strong rental income. The property's historic charm combined with its modern potential makes it an attractive investment for both experienced investors and owner-occupiers seeking to capitalize on Omaha's thriving multifamily market. This is a value-add investment opportunity in a high-growth area. The building is situated in Douglas County, Nebraska, with a zip code of 68105.

• CAP approach

  CAP return

  Valuation

  6%

  $782,943

  6.5%

  $722,717

  7%

  $671,094

• Comparable approach

  Method

  Valuation

  Relative Method

  $225,311

  Geo Method

  $225,311

• Alternative Use

  Use

  Valuation

  Residential

  $722,717

  Hospitality

  $662,005

  Educational

  $550,780

  Medical

  $569,722

  Retail

  $856,769

Location Insight

City

Omaha

County

Douglas

State

Nebraska

Latitude

41.2562

Longitude

-95.9649

CBSA code

36540

CBSA name

OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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