318 Main St Lamoni, IA 50140

This exceptional investment opportunity presents a fully remodeled, 20-unit apartment complex situated on a one-acre lot at 318 E Main Street, Lamoni, IA. Each unit boasts a single bedroom, ensuring high occupancy rates and ease of management. The property includes a fully operational commercial laundromat equipped with six washing machines and eight dryers, generating additional revenue streams. An on-site office and convenient office elevator enhance operational efficiency. The building is in excellent condition, reflecting recent renovations throughout. The property is priced at $700,000, representing a substantial reduction, though the price is firm. Lamoni, Iowa's location near Graceland University provides a stable tenant base. While owner financing is not typically offered, the owner may consider a sale with a $400,000 down payment and a $300,000 owner-financed loan at 7% interest, structured as a 3-year balloon payment. Owner approval is required for this financing option. Serious inquiries only