John Heine, JD, CCIM 402.778.48 jheine@investorsomaha.com www.johnheinecre.com Ekard court 617 SOUTH 31ST STREET OMAHA, NEBRASKA 68105 11301 Davenport Street Omaha, NE 68154 402.330.8000 www.investorsomaha.com
1 Executive Summary INTRODUCTION Investors Realty, Inc. is pleased to present the opportunity to acquire a newly stabilized multifamily building, located in the heart of Midtown in Omaha, Nebraska. Within a very short walking distance, the area includes Mutual of Omaha and Midtown Crossing s many retailers and amenities, Nebraska Medical Center, the Blackstone District, Creighton University and downtown Omaha. The property has easy access to Interstate 480 providing quick drive times to other locations in the Omaha Metropolitan area. With a strong, diverse economy, Omaha continues to have very low unemployment and steady population growth. INVESTMENT SUMMARY Price TBD by Market Year Built 2016 Number of Units 36 Number of Buildings One Site Size.6537 Acres Gross Building Square Feet 38,880 Rentable Square Feet 33,055 Average Square Feet per Unit 918 Average Market Rent per Unit $1,052 Average Market Rent per Square Feet $1.15
INVESTMENT HIGHLIGHTS NEBRASKA IOWA 2» Opportunity to purchase a newly constructed stabilized asset in a developing area» Class A+ location with nearby retail and service amenities of Midtown Crossing, the Blackstone District and the Old Market» Adjacent proximity and easy access to Interstate I-480 and Leavenworth Street» Neighborhood includes future development of:» Single family townhomes;» Leavenworth Street road diet and streetscape project in 2020;» Potential streetcar; and» Additional retail to develop along Leavenworth Street» Large units with efficient floorplans including walk-in closets and high-end finishes» Lower rents in comparison to other new construction projects in Midtown and Downtown TOURS Prospective purchasers will have the opportunity to visit the Property via pre-scheduled property tours. Tours will include access to a representative sampling of units and access to common areas. To accommodate the Property s ongoing operations, tours will require advance notice and scheduling through Investors Realty, Inc. DEBT The Property is offered free and clear of debt and available for new financing. 144th Street West Maple Road West Dodge Road nter Road 2 d 50 680 La Vista 680 72nd Street 2 36 Ekard court 80 Midtown 42nd Street Downtown 480 29 Eppley Airfield 29 Council Bluffs 80 CALL FOR OFFERS The Call for Offers Date is September 12, 2018. 80 370 Papillion 370 Bellevue 29 OFFER SUBMISSION Offers shall include, but not be limited to:» Purchase Price and Earnest Money» Due Diligence Period» Description of financing contingency» Closing Date IOWA NEBRASKA
PROPERTY DESCRIPTION Number of Units 36 Number of Buildings One Gross Building Area 38,800 SF Land Area 28,476 SF Year Completed 2016 Zoning R8-ACI-1 (PL) Flood Plain No CONSTRUCTION Frame Wood Roof Asphalt shingle Windows Anderson high-end vinyl Plumbing Copper supply and PVC waste Electric Copper HVAC Electric (wall) heat and air conditioning units Exterior Finish Brick and cement (Hardie board lap siding) Number of Stories Four Fire Suppression System Wet Insulation Sound batt insulation between each unit UTILITIES SERVICE Cable Internet Phone Electric Gas Water Sewer Cox Communications Omaha Public Power District Metropolitan Utilities District Metropolitan Utilities District Cable, internet, phone, electricity and gas are paid by Tenants The electrical house meter is paid by Landlord Landlord pays water and sewer directly and is reimbursed by Tenants Parking 46 surface spaces (appropriate for the area) 35 off street 10 street 1 handicap INTERIOR UNIT AMENTITIES Hardwood tile flooring Whirlpool stainless steel appliances Luxury cabinets Kohler plumbing fixtures Solid surface countertops Surround showers High-end window coverings Walk-in and other large closets Spacious floorplans Individual 40 50-gallon hot water heaters Nine-foot ceiling heights Coffered ceilings on fourth floor units 3 EXECUTIVE SUMMARY
COMMUNITY AMENITIES Elevator Secured entry Bike storage room Efficient and beautiful landscaping Pet friendly Easy access to the interstate and downtown Off-street parking Neighboring retail within walking distance Storm shelter Garbage Enclosure UNIT BREAKDOWN Unit Type Square Feet Units One Bedroom One Bathroom 825 1 One Bedroom One Bathroom 840 5 One Bedroom One Bathroom 850 5 One Bedroom One Bathroom 880 15 Two Bedroom One Bathroom 1,090 2 Two Bedroom Two Bathroom 1,050 8 4
floor PLAN 5 A UNIT 840 SQ FT B UNIT 850 SQ FT
floor PLAN 6 C UNIT 880 SQ FT D UNIT 1,050 SQ FT
floor PLAN 7 E UNIT 1,090 SQ FT
Aerial 8 Dodge Street University Nebraska Med Center 40th Street Mutual of Omaha Farnam Street Kiewit Harney Street 33rd Street Midtown Crossing Dewery Park Turner Park 480 Ekard court Saint Mary s Avenue Leavenworth Street Leavenworth Park
Ekard court 617 SOUTH 31ST STREET OMAHA, NEBRASKA 68105 11301 Davenport Street Omaha, NE 68154 402.330.8000 www.investorsomaha.com John Heine, JD, CCIM 402.778.48 jheine@investorsomaha.com www.johnheinecre.com