Remodeled 20-Unit Apartment
For Sale
$999,000
318 E Main Street, Lamoni, IA 50140
Commercial Sale, Lamoni, IA
Property SizeContact for details
Lot Size1.00 Acre
Days on Market1096
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
Amenities
laundromat
office
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 #***
(402) 391-5912
Added: Sep 14, 2023
Changed: Sep 7
Last Checked: Sep 13 at 8:06PM
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 20-unit apartment property offers an all-one-bedroom configuration within a brick building constructed in 1978. The units have been remodeled, and the property includes a commercial laundry facility with 6 washing machines and 8 dryers. Additional improvements include office space and an elevator serving the office area. Assigned parking, ductless heating, and public water are also provided.
The property occupies 1 acre at 318 E Main Street in Lamoni, Iowa, within Decatur County. The site carries Business/Commercial zoning and is located in a community identified in the listing information as home to Graceland College. The combination of apartment units, laundry infrastructure, office space, and elevator access creates a defined multifamily property configuration.
The property occupies 1 acre at 318 E Main Street in Lamoni, Iowa, within Decatur County. The site carries Business/Commercial zoning and is located in a community identified in the listing information as home to Graceland College. The combination of apartment units, laundry infrastructure, office space, and elevator access creates a defined multifamily property configuration.
Key Highlights
- 20 one‑bedroom apartment units
- Remodeled units in a brick building constructed in 1978
- Commercial laundry with 6 washing machines and 8 dryers
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
201
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - One-bedroom residences include an on-site commercial laundry and dedicated office space.
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 one‑bedroom apartment units; Remodeled units in a brick building constructed in 1978; Commercial laundry with 6 washing machines and 8 dryers
