Tommy Wiles
Agent
Hillcrest 8-Unit Multifamily Investment
340 E. 14th Street | Alliance, Nebraska
Investment Overview
Hillcrest Apartments presents an exceptional opportunity to acquire a professionally maintained 8-unit multifamily investment property in the growing regional community of Alliance, Nebraska. Offering a desirable unit mix of six 2-bedroom, 1-bath apartments and two 1-bedroom, 1-bath apartments, this income-producing asset combines stable in-place cash flow with meaningful upside through future rental growth.
Positioned in an established residential neighborhood near schools, parks, healthcare, and major employers, Hillcrest Apartments has consistently attracted long-term tenants and has benefited from Alliance's steady demand for affordable housing. With numerous recent capital improvements already completed, investors can focus on maximizing returns rather than deferred maintenance.
Whether expanding an existing portfolio or completing a 1031 exchange, Hillcrest Apartments represents an attractive opportunity to acquire a well-maintained multifamily asset with proven performance and long-term appreciation potential.
Investment Highlights
Recent Capital Improvements
Ownership has continued investing in the property, reducing near-term capital expenditure requirements for the next owner.
Recent improvements include:
These improvements position the property for continued long-term performance while minimizing immediate capital needs.
Apartment Features
Each apartment has been designed with functionality and tenant comfort in mind and includes:
The practical floor plans continue to appeal to a broad tenant base, supporting consistent occupancy and tenant retention.
Investment Advantages
Hillcrest Apartments offers investors many of the characteristics sought after in today's multifamily market.
Stable Income
The property has maintained a strong rental history and continues to benefit from steady demand for affordable housing within Alliance.
Efficient Operating Structure
One of Hillcrest's strongest advantages is its expense profile.
This efficient operating model helps maximize net operating income while reducing ownership responsibilities.
Value-Add Opportunity
Hillcrest Apartments provides investors with the opportunity to increase value through thoughtful rent growth over time while maintaining strong occupancy. As rental demand continues throughout western Nebraska, future ownership has the opportunity to improve cash flow through strategic property management and market-based rental adjustments.
Location
Located at 340 East 14th Street, Hillcrest Apartments enjoys an excellent location within Alliance, offering tenants convenient access to many of the community's amenities.
Nearby destinations include:
Its central location provides tenants with convenient access to employment, healthcare, education, shopping, and recreation, helping support long-term occupancy.
Why Invest in Alliance, Nebraska?
Alliance serves as the commercial, healthcare, and transportation hub of western Nebraska. Home to approximately 8,000 residents, the community benefits from a diverse employment base that includes healthcare, education, transportation, agriculture, manufacturing, and retail.
Major employers include BNSF Railway, Box Butte General Hospital, Western Nebraska Community College, and numerous regional agricultural businesses. The city's affordability, quality schools, and strong sense of community continue to attract residents seeking stable housing options.
In addition to its economic foundation, Alliance offers an outstanding quality of life with numerous parks, recreational facilities, local restaurants, golf, shopping, and community events throughout the year. Outdoor enthusiasts also enjoy easy access to western Nebraska's hunting, fishing, hiking, and scenic landscapes.
For investors, Alliance represents a stable secondary market with consistent rental demand, attractive entry pricing, and long-term growth potential.
Investment Summary
Hillcrest Apartments represents a rare opportunity to acquire a well-maintained multifamily asset offering immediate cash flow, recent capital improvements, efficient operating expenses, and future upside. The combination of a desirable unit mix, strong rental history, and strategic location makes this property an attractive addition to any investment portfolio.
Whether you're seeking stable income, long-term appreciation, or a quality 1031 exchange opportunity, Hillcrest Apartments is positioned to deliver lasting investment value.
Showing Instructions:
Contact Listing agent
PARCEL 1 HILLCREST APT
#1 Properties Ranch & Recreation LLC uses reasonable efforts in collecting and preparing materials and information regarding properties. While the information is believed to be reliable, due to the rapidly changing nature of the real estate market and our reliance on information provided by outside resources, the information is not guaranteed. Information is also subject to change, withdrawal, or correction.
Potential purchasers should independently verify any information and conduct their own due diligence. #1 Properties Ranch & Recreation LLC makes no representations or warranties about the property or the accuracy or completeness of the information concerning the property, including, but not limited to, each of the following: (a) acreage counts and legal descriptions, (b) distances, sizes, square footage, and other measurements, (c) water and mineral rights information, and (d) soil types, production, carrying capacity, or income potential.
Information is only provided for the purpose of assisting potential purchasers in identifying prospective properties they may be interested in purchasing. #1 Properties Ranch & Recreation LLC is not liable for any inaccuracies, errors, or omissions regarding information about the property or losses that result from the use of this information. Potential purchasers should conduct their own due diligence including, but not limited to, a legal and financial review before purchasing.
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