Corby Street Apartments 7301 Corby St 36 Unit Apartment Building $4,616,769 CAD ($128,244 CAD/Unit) 7.11% Cap Rate Omaha, NE 68134

Corby Street Apartments is a 36-unit multifamily community located in northwest Omaha, within an established residential corridor that provides convenient access to major employment centers, retail amenities, healthcare facilities, and regional transportation routes. Situated near major thoroughfares including Interstate 680 and Dodge Street, the property benefits from strong connectivity to Downtown Omaha, West Omaha, and several of the metro’s largest employment nodes. The surrounding neighborhood is characterized by stable residential demand, mature infrastructure, and proximity to schools, shopping, and everyday services that continue to support renter demand.
Originally constructed in 1969, the property is situated on a 1.04-acre site and features 9 income-generating, detached garages. The community features a balanced unit mix consisting of 22 one-bedroom units averaging approximately 625 square feet and 14 two-bedroom units averaging approximately 781 square feet. Current rents remain below projected market levels, creating the opportunity for future revenue growth through strategic interior upgrades, operational improvements, and an exceptional mark-to-market opportunity. Current rents are approximately 14.4% below the highest achieved in-place rents at the property, allowing new ownership to mark-up rents to proforma levels that have already been proven out. Capturing this embedded upside is projected to generate more than $65,000 in additional gross rent, which will significantly boost NOI and drastically increase the property’s value.
Corby Street Apartments is well positioned to benefit from the long-term economic fundamentals driving the broader Omaha metropolitan area. Omaha continues to distinguish itself as one of the Midwest’s most stable and economically resilient metros, supported by consistent population growth, above-average household incomes, and unemployment rates that have remained below national averages. The metro’s diversified employment base is anchored by major corporate headquarters including Berkshire Hathaway, Union Pacific, Mutual of Omaha, and Kiewit, alongside strong healthcare, education, financial services, and logistics sectors that continue to attract and retain residents.
These economic fundamentals have supported steady household formation and durable demand for workforce-oriented rental housing throughout the metro. Corby Street Apartments’ location within an established Omaha submarket allows the property to capitalize on this continued growth while offering residents a more attainable housing option relative to newer Class A developments. The combination of stable market fundamentals, accessible location, and operational upside positions the asset as an attractive long-term multifamily investment opportunity within one of the Midwest’s strongest secondary markets.