$700,000

401 S 38th Ave Omaha, NE 68131

Midtown Omaha Neighborhood

Estimated payment $4,483/month

Total Views 12,369
6 Beds
6 Baths
3,117 Sq Ft
$225 Price per Sq Ft

About This Home

Historic 6-Plex Near Blackstone & Nebraska Medicine Own a piece of Omaha history at 401 S 38th Ave, just one block from the Blackstone District and future Omaha Streetcar line. Built by Louis Kirschbraun of Kirschbraun & Sons Creamery, this home is on the National Register of Historic Places and has been converted into 6 rental units: -4 one-bed, one-bath apartments- -2 studio units- Rents are below market, offering upside through updates or repositioning. Steps from Nebraska Medicine, UNMC, and Midtown Crossing, the location is ideal for both long-term tenants and short-term rental potential. With strong walkability and high demand, this is a rare opportunity to increase income through Airbnb or traditional leasing in a prime urban setting. Don't miss your chance to invest in one of Omaha’s most historic and walkable neighborhoods.

Listing Agent

Mike Tesnar

BHHS Ambassador Real Estate License #20130096 Listed on: 05/20/2025

BHHS Ambassador Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,796

Year Built

  • Built in 1910

Lot Details

  • 8,265 Sq Ft Lot
  • Lot Dimensions are 95 x 87

Interior Spaces

  • 3,117 Sq Ft Home
  • 3-Story Property
  • Basement

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Full Bathrooms

Parking

  • 7 Parking Spaces
  • No Garage

Schools

  • Beals Elementary School
  • Norris Middle School
  • Buena Vista High School

Utilities

  • Heating System Uses Gas
  • Radiant Heating System

Listing and Financial Details

  • Assessor Parcel Number 1310860000

Community Details

Overview

  • No Home Owners Association
  • 3,117 Sq Ft Building
  • Highland Place Subdivision

Building Details

  • Insurance Expense $6,576
  • Maintenance Expense $2,400
  • Other Expense $4,800
  • Net Operating Income $31,228

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,796

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Parcel Number: 1310860000
  • Property Sub Type: Multi Family
  • Other Expense: 4800
  • Year Built: 1910
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.1897
  • Lot Size: 95 x 87
  • Ownership: Fee Simple
  • Subdivision Name: Highland Place
  • Directions: N/A
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: Three Or More
  • New Construction: No
  • Special Features: None

Interior Features

  • Basement YN: Yes
  • Full Bathrooms: 6
  • Total Bedrooms: 6
  • Fireplace: No
  • Living Area: 3117

Exterior Features

  • Foundation Details: Other
  • Fencing: None
  • Property Condition: Not New and NOT a Model

Garage/Parking

  • Attached Garage: No
  • Parking Features: No Garage
  • Total Parking Spaces: 7

Utilities

  • Heating: Gas, Radiant
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

  • High School: Buena Vista
  • Elementary School: Beals
  • Junior High Dist: Omaha
  • Middle Or Junior School: Norris

Lot Info

  • Lot Features: Up to 1/4 Acre.
  • Lot Size Sq Ft: 8265

Green Features

Multi Family

  • Insurance Expense: 6576
  • Maintenance Expense: 2400
  • Number Of Units Total: 6
  • Property Net Operating Income: 31228
  • Total Actual Rent: 4685

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 7795.96

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2025 05/20/25 For Sale $700,000 -- $225 / Sq Ft
Source: Great Plains Regional MLS

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Source: Great Plains Regional MLS

MLS Number: 22513246

Great Plains Regional MLS

APN: 1310860000

Nebraska Douglas County Omaha 68131 Midtown Omaha

401 S 38th Ave, Omaha, NE

This home is located at 401 S 38th Ave, Omaha, NE 68131 and is currently priced at $700,000, approximately $224 per square foot. This property was built in 1910. 401 S 38th Ave is a home located in Douglas County with nearby schools including Field Club Elementary School, Lewis & Clark Middle School, and Central High School.

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Copyright 2025, Great Plains Regional MLS LLC

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Mike Tesnar
Listing Agent
Mike Tesnar
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BHHS Ambassador Real Estate
(402) 858-4689