318 Main StLamoni, IA 50140
- Commercial real estate
- 1.00 AC
Property Details for 318 Main St
- Year built
- 1978
- Lot size
- 1.00 AC
- Property type
- Commercial real estate
Description
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
Location Insight
- City
- Lamoni
- County
- Decatur
- State
- Iowa
- Latitude
- 40.624
- Longitude
- -93.93
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].