1317 Park Ave
- Value-Add Opportunity
- Current avg rents ~$1,137 vs. ~$1,350 market → ~19% upside through rent growth
- Turnkey Asset with Lease-Up Upside
- Fully occupied, stabilized deal with immediate mark-to-market opportunity as leases roll
- In-Unit Laundry Amenity
- Washer/dryer (or hookups) in units → stronger tenant demand, retention, and rent premiums
- Large Unit Competitive Advantage
- Units ~1,050–1,150 SF (above submarket average) → supports higher achievable rents
- Recent Capital Improvements
- Major upgrades completed (plumbing, electrical, windows, HVAC, water heaters) → minimal near-term capex
- Midtown Growth Corridor Location
- Proximity to UNMC, Midtown Crossing, and redevelopment → strong demand drivers and appreciation potential
Property Description
PROPERTY TOUR - WEDNESDAY, MAY 13th, 9:30-11:00 AM The Koley is a fully renovated, six-unit multifamily asset located at 1317 Park Avenue in Omaha’s highly desirable Midtown / Hanscom Park submarket. Originally constructed in 1900 and comprehensively updated in 2016, the property blends historic character with modern systems, offering investors a stabilized, turnkey opportunity with additional upside. The asset consists exclusively of large-format two-bedroom, one-bath units averaging approximately 1,150 square feet—significantly larger than typical market comparables. Each unit benefits from updated interiors, in-unit laundry (or hookups), and individually metered utilities, enhancing tenant appeal and operational efficiency. Extensive capital improvements include modernized plumbing and electrical systems, updated windows, central HVAC, and upgraded water heaters. Currently operating at full occupancy, The Koley provides strong in-place income with clear potential to increase rents to market levels, projected at approximately $1,350 per unit. This presents investors with a straightforward value-add component through lease roll and operational optimization. Strategically positioned within a rapidly improving corridor, the property benefits from proximity to Midtown Crossing, UNMC, and major employment hubs, supporting long-term rent growth and tenant demand. The combination of location, unit size, and recent renovations positions The Koley as a differentiated asset within the submarket. Overall, The Koley represents a compelling opportunity to acquire a stabilized, well-maintained multifamily property with immediate cash flow and embedded upside in one of Omaha’s most active and evolving neighborhoods.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $750,000 |
| No. of Units: | 6 |
| Year Built: | 1900 |
| Lot Size: | 0.15 Acres |
| Opportunity Zone: | No |
| Price per unit: | $125,000 |
| Property Website | Click Here |
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