1234 K St
- 100% leased
- 24 units (20 studios, 4 one-bedrooms)
- Property has demonstrated durable demand in this downtown location
- The studio-heavy mix serves students, professionals, and service-sector employees seeking affordable housing near major employment and activity centers
- Major Capital Item Completed: Sewer line replacement in basement
- Projected 2026 NOI: ~$104,000; Ideal for private investors, 1031 exchange buyers, or out-of-state investors seeking a stabilized Midwest asset
Property Description
1234 K Street is a 24-unit, renovated, stabilized multifamily asset with 100% occupancy, offering immediate cashflow for the purchaser. With a unit mix of 20 studio apartments and 4 one-bedroom units, the in-place rents continue to attract stable workforce and student tenancy while offering future upside through organic rent growth and continues expense optimization. The property is well positioned to serve Lincoln’s downtown workforce, including government, university, hospitality, healthcare and office employees. The studio-heavy layout appeals to a broad tenant base seeking a practical alternative to higher-priced luxury apartments, supporting durable leasing demand in a central location. Offered at $66,625 per unit, the pricing is compelling on a price per door basis, positioning the asset to deliver stable income today with a clear path for incremental NOI growth in the coming year.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $159,000 |
| No. of Units: | 24 |
| Year Built: | 1927 |
| Lot Size: | 0.14 Acres |
| Opportunity Zone: | No |
| Price per unit: | $6,625 |
| Property Website | Click Here |
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