capitol-hill-capitol-rows

320 N 22nd St. | Omaha, NE 68102

Capitol Hill and Capitol Rows

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Investment Highlights

Opportunity

LOCATION

Maximum Flexibility for New Ownership – Two adjacent properties with value-add component | Ability to Reposition the Asset to Student or Market Rate Walker’s Paradise – Short Walk to Creighton University, downtown Omaha and restaurants and entertainment. Good Immediate Scale – 214 Units in two very distinct properties offering great unit diversity in age and finishes Untapped Potential for Amenities – A new owner can benefit from updates to fitness center, community center and maybe even a rooftop deck with amazing views! Location, Location, Location – Property is steps from everything while offering tremendous visibility from I-480 with over 22,000 cars per day. Amazing Omaha Market – One of the top places to live in America offering tremendous quality of life and very diverse and robust economy.

INVESTMENT HIGHLIGHTS

All utilities included In home Wifi available USB outlets* Community laundry on-site Furnished Available*In select apartment homes

CAPITOL HILL

All utilities included In-home Wi-Fi available USB outlets Furnished available Washer and dryer in home Patios in select units

CAPITOL ROWS

THE PROPERTY

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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 company business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Kevin Larimer

Investment Advisors

Mortgage Bankers: 

Senior Managing Director 248.341.3305 kevin.larimer@berkadia.com BREA MI #: 6501259415

RALPH DEPASQUALE

Managing Director 312.845.8572 ralph.depasquale@berkadia.com BREA NE #: 20130315

Aaron Moll

Managing Director - Student Housing 248.208.0529 aaron.moll@berkadia.com

Trevor Friday

Associate Director - Student Housing 248.341.3307 trevor.friday@berkadia.com

Michael Spero

Senior Director 913.980.8698 michael.spero@berkadia.com BREA # 2016012744

BRANDON BUELL

Senior Managing Director 346.444.8982 brandon.buell@berkadia.com TX DRE #: 617983

Controlled Building Access Private Resident Parking Updated Clubhouse 24 Hour Fitness Facility Computer Lab On-Site Management Study Lounge Storage On-site Private Shuttle Tanning Bed

COMMUNITY AMENITIES

Niko Vrentas

Associate Director 913.991.0707 niko.vrentas@berkadia.com BREA #2023019061 

John Schorgl

Managing Director 816.759.0367 john.schorgl@berkadia.com

CHICAGO OFFICE

125 South Wacker Drive Suite 400 Chicago, IL 60606

DETROIT OFFICE

28411 Northwestern Highway, Ste 300 Southfield, MI 48034

Kansas City Office

4800 Main Street Suite 501 Kansas City, MO 64112

Capitol Rows

Capitol Hill

Capitol Rows

Capitol Hill

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The Opportunity

Capitol Hill and Capitol Rows are two adjacent multifamily assets creating a 214-apartment community and located just north of downtown Omaha, Nebraska. The two distinct properties are currently operated as a single asset giving a potential buyer a good scale for management efficiencies, as well as great appeal to a diverse cross-segment of potential renters. The properties include Capitol Hill, a single, twelve-story tower containing 132 units, and Capitol Rows, which includes 82 units in two, three-story (walk-up) buildings and one four-story building with elevator. There is also a two-level parking deck with covered parking on the lower level and ample surface parking on the upper deck and surface lots. Built in the mid-1950’s, Capitol Hill has received significant capital over the year with upgrades to all major systems and unit interiors. It also represents a tremendous value-add opportunity for the right buyer in further upgrading the unit interiors, as well as common areas and amenities. Capitol Rows was completed in 2011 and offers attractive, modern units with open floor plans, individual furnaces and central air and in-unit washer dryers. Given the age, there may also be an opportunity to upgrade some or all those units as well. The property can also be purchased at significantly below today’s replacement cost, leaving more than enough room for upgrades, from minor to a major repositioning of the asset. Given its location and proximity to both downtown Omaha and Creighton University, the property’s tenancy is a mix of student and non-student. This also gives the property, and the new owner, tremendous flexibility for the future and their vision for the asset, whether that be to continue to operate it under its current structure or take to 100% market rate or 100% student! Here are a few reasons we feel that the offering of Capitol Hill and Capitol Rows creates an excellent, long-term value-add opportunity with tremendous flexibility.

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