The Koley 1317 Park Ave 6 Unit Apartment Building $1,024,245 CAD ($170,707 CAD/Unit) 6.89% Cap Rate Omaha, NE 68105

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.