South Hills Apartments Home / South Hills Apartments

$ 4,100,000

904 Kasper Street, Bellevue, NE 68147 

  • BUYER Peak Capital Partners
  • SF - Land 4.25 Acres
  • SF - Building 74,586 SF
  • SF - Unit Mix 72 (2 bed - 1 bath)
  • PROPERTY TYPE Multifamily
  • YEAR BUILT/RENOVATED 1996/2014

CHALLENGES

  • Off Market Deal
  • Property was initially a LIHTC deal
  • Short Close

RESULTS

Sale Date: August 17, 2015
Price: $4,100,000
Price Per Unit: $56,944

MAJOR POINTS:

  • Strong upside potential
  • Strong in place income
  • Secured Favorable Financing

PROJECT OVERVIEW

South Hills is a former tax credit project located in the strong Bellevue apartment market. This off market deal had just fallen out of contract when we were able to secure it for Peak Capital. The buyers loved that the property was exceptionally well maintained and still had room to push rents. This is a strong asset in the buyer’s nationwide portfolio of over 100 apartment projects.

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