Remodeled Apartment Building with
For Sale
$999,000
318 E Main Street, Lamoni, IA 50140
COMMERCIAL - Lamoni, IA
Lot Size1.00 Acre
Days on Market1051
Property Features for 318 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
Business/Commercial
Parking features
Assigned
Directions
Main Street Apartments LLC OFF EAST MAIN STREET
Standard status
Active
APN
1302700538
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2022
Tax Description
02.67.27 COM AT SE COR SE SW W 75' TO PT OF BEG. W 109.3, N 172', E 109.45', S 172' TO BEG IN LOTS 16 & 18 BLK 1 EASTERNS AUTUMN HOUSE
Tax Annual Amount
8192
Legal Description
02.67.27 COM AT SE COR SE SW W 75' TO PT OF BEG. W 109.3, N 172', E 109.45', S 172' TO BEG IN LOTS 16 & 18 BLK 1 EASTERNS AUTUMN HOUSE
Utilities
Heating system
Ductless (Heating)
Water source
Public
Building Details
Year built
1978
Number of units
21
Building materials
Brick
Listing Agency:
Power House Exclusive Real Estate Inc.
Listed By:
Michael Powers · License #***
Added: Sep 14, 2023
Changed: Jul 29
Last Checked: Jul 30 at 2:06PM
MLS# 6311422
Copyright © 2026 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property in Lamoni, Iowa, features 20 one-bedroom apartments, all of which have been remodeled and are in excellent condition. A full commercial laundry facility is included, equipped with 6 washing machines and 8 dryers. The property also has an office and an office elevator. Located in Lamoni, Iowa, home to Graceland College, the property occupies a 1-acre lot. The intended use of the property is for business or commercial purposes.
Key Highlights
- 20 Units, All One‑Bedroom, offering consistent and manageable units.
- Fully Remodeled and in Excellent Condition, attracting tenants with reduced maintenance.
- Full Commercial Laundry Facility with 6 washing machines and 8 dryers, a valuable amenity.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 50140, IA
2,503
Population
1,209
Households
2.1
Avg Household Size
31
Median Age
48%
College-Educated
89%
High-School Grad
92.7 sq mi
ZIP Area
27
Density / Sq Mi
$54,000
Median Household Income
$28,409
Median Earnings
$715
Median Rent
$120,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 20-unit apartment building with commercial laundry, remodeled and in excellent condition.
Where is this apartment building located?
The property is located at 318 E Main Street Lamoni, IA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 20 Units, All One‑Bedroom, offering consistent and manageable units.; Fully Remodeled and in Excellent Condition, attracting tenants with reduced maintenance.; Full Commercial Laundry Facility with 6 washing machines and 8 dryers, a valuable amenity.
