Building Details

Year Built 1978

Units 21

Listing Agency: Power House Exclusive Real Estate Inc. e***@aol.coom

Listed By: Michael Powers · License #*** Show Phone

Source: Davisandpalmer

Added: Sep 14, 2023 Changed: Oct 23 Last Checked: Oct 23 at 5:50PM

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Investment Insights

Based on property information with market context.

This 20-unit apartment building contains all one-bedroom apartments and includes an office with an elevator. The property was built in 1978 and has been remodeled. A commercial laundry facility is equipped with 6 washing machines and 8 dryers.

Zoning is Business/Commercial. The property is in Lamoni, Iowa, which is home to Graceland College.

Key Highlights

• 20 apartments, all configured as one‑bedroom units
• Commercial laundry with 6 washing machines and 8 dryers
• Office space with an elevator

Property Analytics

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Open Analytics

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Remodeled one-bedroom units are complemented by a commercial laundry facility and on-site office.

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 apartments, all configured as one‑bedroom units; Commercial laundry with 6 washing machines and 8 dryers; Office space with an elevator