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VILLAGE GREEN TOWNHOMES 2638 S 3rd Street Plz 6 Unit Apartment Building $1,449,494 CAD ($241,582 CAD/Unit) 6.97% Cap Rate Omaha, NE 68108
Investment Highlights
- Prime Location Near Lauritzen Gardens
- 100% Occupied and Cash-Flowing Day One
- A Textbook 1031 and Tax-Advantaged Hold
- Fully Renovated, Move-In Ready Condition
- Rent Upside With Bonus Space to Grow
Executive Summary
Village Green Townhomes (2638-2648 S. 3rd Street) is a fully stabilized, turnkey six-unit multifamily asset within a mile of Lauritzen Gardens and minutes from the Old Market and downtown Omaha — an ideal hold for a 1031 exchange buyer or tax-motivated investor.
The offering totals 15 bedrooms and 7.5 bathrooms, including non-conforming bonus bedrooms in two units' finished basements. Every unit has been comprehensively updated — hardwood floors, appliances, windows, cabinets, bathrooms, and HVAC — plus a 2024 roof and freshly re-finished 12-stall parking lot. Electronic door locks add modern security throughout.
Tenants cover all utilities, with electricity separately metered and water billed back at a fixed rate, keeping expenses simple. A vacant detached garage offers immediate upside, and current rents sit below market, giving a new owner a clear, no-cost path to grow income. Unfinished basement space in several units presents additional future value-add potential.
A stabilized, low-maintenance asset with embedded upside and minimal management burden.
The offering totals 15 bedrooms and 7.5 bathrooms, including non-conforming bonus bedrooms in two units' finished basements. Every unit has been comprehensively updated — hardwood floors, appliances, windows, cabinets, bathrooms, and HVAC — plus a 2024 roof and freshly re-finished 12-stall parking lot. Electronic door locks add modern security throughout.
Tenants cover all utilities, with electricity separately metered and water billed back at a fixed rate, keeping expenses simple. A vacant detached garage offers immediate upside, and current rents sit below market, giving a new owner a clear, no-cost path to grow income. Unfinished basement space in several units presents additional future value-add potential.
A stabilized, low-maintenance asset with embedded upside and minimal management burden.
Property Facts
| Price | $1,449,494 CAD | Apartment Style | Garden |
| Price Per Unit | $241,582 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 6.97% | Building Size | 9,069 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1966 |
| Zoning | R7 - High Density Residential Use | ||
| Price | $1,449,494 CAD |
| Price Per Unit | $241,582 CAD |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 9,069 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Zoning | R7 - High Density Residential Use |
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Fairly walkable
40/100
Very drivable
80/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2266-0003-02 | Improvements Assessment | $1,074,144 CAD |
| Land Assessment | $64,882 CAD | Total Assessment | $1,139,026 CAD |
Property Taxes
Parcel Number
2266-0003-02
Land Assessment
$64,882 CAD
Improvements Assessment
$1,074,144 CAD
Total Assessment
$1,139,026 CAD
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VILLAGE GREEN TOWNHOMES | 2638 S 3rd Street Plz
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