VALUE-ADD Opportunity

omaha, ne

THE OPPORTUNITY

A garden-style asset with an attractive location

Located in North Omaha, Sorensen Square Apartments is directly across the street from Roncalli Catholic High School, and adjacent to Pinewood Elementary and Nathan Hale Middle School. The property is a block away from CHI Health Immanuel Medical Center, and within a few miles of numerous restaurants, shops, hospitals, entertainment, and convenience stores. The location also offers a short and easy drive for tenants commuting to Downtown, Council Bluffs, West & Central Omaha, and Eppley Airfield.

Built in 1972, the asset has been well-maintained over the years, and shows excellent historical occupancy levels. At current rent levels, there is an opportunity to generate additional revenue via property renovations, and the implementation of consistent, and efficient operations.

INVESTMENT HIGHLIGHTS

  • Strong Occupancy with Organic Rent Growth Potential
  • Current Interior Finishes Allow for Unit Renovations and $100+ Rent Premiums
  • Within 2 Miles of Sorensen Park Plaza & Benson Park Plaza, with Numerous Shops,
  • Grocery, Convenience Stores, and Restaurants
  • Convenient Access to US-75 & I-680
  • Current Ownership has Undertaken ~$200,000 of Current Capital Expenditures Including Roofs, Carpeting, Parking Lots, and LED Lighting

The Property

Sorensen Square Apartments is an 84-unit, garden-style apartment community located in Omaha, NE, approximately seven miles from the city's downtown. Built in 1972, the property sits on four acres and comprises 64,200 square feet of rentable space. Sorensen Square Apartments consists of 39 one-bedroom units spanning 600 square feet each, 44 two-bedroom units measuring 900 square feet each, and one three-bedroom unit at 1,200 square feet. The property is beautifully landscaped with well-maintained grass areas, trimmed shrubs, and mature shade trees.

  • Unit amenities include a fully-equipped kitchen with refrigerator, stove, microwave, air conditioning, hardwood floors, and fireplaces.
  • Spacious Balconies on 2nd ($20 rent premium) and 3rd ($40 rent premium) floor units
  • 21 Garage Spaces ($45 per month)
  • Within Walking Distance to Pinewood Elementary & Nathan Hale Middle School, and CHI Health Immanuel Medical Center
  • Quick Access to US-75, I-680, & N 90th St all Providing Access to Major Employers

Amenities

UNIT AMENITIES

  • Air Conditioning
  • Hardwood Floors
  • Dishwasher
  • Fireplace
  • Microwave
  • Dine-In Kitchen
  • High-Speed Internet Access
  • Balcony / Patio*

*In Select Units

COMMUNITY AMENITIES

  • Smoke-Free
  • Video Patrol
  • Cat Friendly
  • Laundry Facility
  • Garage Parking

LOCATION

Economic Snapshot

CONTACT

Experts here for you

Parker Stewart

Director

phone: 312.845.3094

email: Parker.Stewart@berkadia.com

Michael Sullivan

Senior Director

phone: 816.759.0369

email: Michael.Sullivan@berkadia.com

Alex Blagojevich

Managing Director

phone: 312.845.3088

email: Alex.Blagojevich@berkadia.com

Brett Meinzer

Director

phone: 816.759.0366

email: Brett.Meinzer@berkadia.com

FINANCING

John Schorgl

Managing Director

phone: 816.759.0367

email: John.Schorgl@berkadia.com

CHICAGO OFFICE

125 S Wacker Dr., Suite 400

Chicago, IL 60606

312.957.7391 | Fax: 312.957.7871

Berkadia.com

KANSAS CITY OFFICE

4800 Main Street, Suite 501

Kansas City, MO 64112

Phone: 816.531.2884

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

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