Thomasbrook Lincoln, NE

Access Doc Center / CA

Thomasbrook

Address

5900 Roose Street
Lincoln, NE 68506

Summary

Units 264
Year Built 1974

Investment Highlights

Proven Rent Upside Of $129+/Unit With Strategic Interior Renovations
Offered At An Attractive Basis
Conveniently Located Proximate To Employers, Retailers & Universities
Strong Submarket
Offered Free And Clear Of Existing Debt
Can Be Purchased with Cimarron Hills

Value-Add Opportunity with Strategic Interior

Ownership has invested over $500,000 in recent capital expenditures into roofs, HVAC systems and strategic unit interior renovations. In total, 117 units (44%+) have been fully renovated. This renovation will allow for minimal deferred maintenance for future ownership. The remaining classic units can be upgraded for a proven monthly rent upside of $125+/unit. If no further improvements are made, new ownership would inherit an asset operating smoothly with fantastic cash flow from day one.

Proven Rent Upside of $129+/Unit with Strategic Interior Renovations

Thomasbrook will enable new ownership to realize significant rent premiums through a proven value-add renovation program. Over 44% of the units have been renovated at Thomasbrook, and classic units are primed for continued value-add implementation. Upgraded finish packages at Thomasbrook have resulted in an increase of more than $129 per unit monthly.

Strong Submarket

The vacancy rate in the South Lincoln submarket is 2.4% and is below the long-term average. With only 140 units delivered in 2022, low vacancy rates are forecasted. Rents have increased by an impressive 6.4% over the past year. The Lincoln market continues to be a very attractive market with strong apartment fundamentals and economic indicators, including the benefits of The University of Nebraska and high-quality medical facilities.

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Amenities

UNIT AMENITIES

Ceiling Fans
Decorative Track Lighting
Dishwasher
Intercom
In-Unit Washer & Dryer*
Kitchen Island
Large Closets
Microwave
Patio or Balcony
Range
Stainless Steel Appliances
Storage Units Available
Smoke-Free
Pet Friendly

*Select Units Only

COMMON AREA AMENITIES

On-Site Management
24-Hour Emergency Maintenance
24-Hour Fitness Center
Basketball Court
Bike Storage
Community Room
Controlled Access
Courtyard
Detached Garages Available
Dog Park
Grills
Laundry Service
Tennis Court
Outdoor Pool
Recycling

Team

Brokerage Team

When evaluating your options for a partner to assist with the sale of your multifamily asset, there are a number of factors you may consider. From experience and market knowledge to marketing prowess and ongoing support, each plays an integral role in creating a positive experience and a profitable outcome. Yet the one competency you may never have considered could be the one that matters most: the ability to move capital across markets efficiently and effectively.

MMG possesses a unique combination of talent, resources, expertise, and access that delivers an elevated experience from acquisition to disposition. Discover the benefits of a partnership with us.