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Ernest Abell

ernieabell.realty@hotmail.com +1(641) 414-3893

Listed by Keegan Smith Elite Land and Auction LLC

$ 399,000

Est. payment | -/mo

Save

$ 399,000

Est. payment | -/mo

Save

Key Details

Property Type Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID NOC6343303

Year Built 1971

Annual Tax Amount $6,951

Tax Year 2024

Lot Dimensions 86,822

Property Sub-Type Apartment

Property Description

Lamoni Multifamily Investment Opportunity—Potential for 17 Apartments Explore the investment potential of this apartment building in Lamoni, Iowa! The property features eight finished apartments—eight one-bedroom units and one three-bedroom unit—with space for eight additional apartments, offering the potential for 17 total units. Major improvements include a brand-new roof, a brand-new sprinkler system, and updated electrical work in finished units and rough-in electrical work in unfinished units. These upgrades provide a valuable foundation for an investor looking to complete the remaining units and expand the property's rental potential. Located in a college town close to Interstate 35, this property combines convenient access with an opportunity to build a multifamily investment. Whether you're growing an existing portfolio or taking on your next renovation project, this Lamoni property offers room to add value and pursue long-term income potential.

Location

State IA

County Decatur

Direction Exit 4 off of I-35 head west. Property is on north side of the road.

Interior

Heating Forced Air, Hot Water

Exterior

Parking Features Covered, Concrete

Garage Spaces 2.0

Utilities Available Electric Common, Heating Separate, Hot Water Common

View Y/N true

Accessibility No Stairs External, Hallways 42\"+, Roll-In Shower

Total Parking Spaces 20

Building

Sewer City Sewer/Connected

Water Public

Structure Type Brick

Schools

School District 3465 - Lamoni

Others

Energy Description Electric

Acceptable Financing NOC6343303

Listing Terms NOC6343303

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(641) 414-3893

ernieabell.realty@hotmail.com

Learn More About LPT Realty

2010 E Main Lamoni, IA 50140