- Market Penetration & Scalability
- Resilient Omaha Rental Market
- Significant Upside through Interior Value-Add Improvements
- Stable Occupancy and Proven Rent Growth
- Offered Free & Clear
Market Penetration & Scalability
This offering presents a unique opportunity to acquire 264 units in conjunction with the neighboring Brent Village, creating a 444-unit portfolio in the desirable Omaha MSA. This amount of scale allows investors to gain immediate market presence and achieve greater operational efficiencies.
Resilient Omaha Rental Market
Bellevue Hills is positioned in a resilient rental market that is projected to benefit from a 4.4% rent increase in 2024, with an impressive 95.5% occupancy rate, showcasing strong demand in a supply-constrained market. With a competitive 3.4% unemployment rate and proximity to diversified employment sectors, including Offutt Air Force Base and Bellevue University, the property attracts a broad tenant demographic, ensuring sustained demand.
Significant Upside through Interior Value-Add Improvements
Investors have an opportunity to improve net rental income by $500,000+ with unit renovations. These upgrades, which would include some flooring, countertops, cabinetry, lighting and appliances, would allow the property to increase average in-place rents by ~$166/unit. There is an additional opportunity to push rents even further with the addition of In-Unit Washers and Dryers – many of the floor plates provide an easy solution for adding washer and dryer hookups.
