322 S Main Street

Lamar, CO 81052

Listing provided courtesy of: ReColorado PARK PROPERTIES REALTY LLC

$4,500,000

MLS 6040622, Active

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  • Commercial
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The Alamo Apartments at 322 S Main St in Lamar is a 23-apartment building. Grand fanfare surrounded the opening of the Alamo in 1936, with more than 2,000 guests touring the 54 guest rooms, men's club, women's (card) salon, and restaurant. Then in 2016, Otto Correct LLC purchased the Alamo Apartment building at 322 S Main St. and began a wholesale renovation of the building replacing: Replaced of all refrigerators, ranges/ovens and range hoods Replaced all window coverings, drapes and drapery rods Painted all apartment interiors, hallways, stairwells, common rooms, exterior trim/gutters Replaced elevator Replaced water faucets to all bathrooms, water lines Replaced 4 laundry room washers/dryers Built and furnished workout room Replaced 85% of all light fixtures Replaced two-thirds of the apartment HVAC units Bosch water source heat pump Replacing 17 of the 23 kitchens including cabinets, countertops, stainless steel sinks and sprayer faucets, backsplashes Carpeted all common area hallways, mail room and stairwells Installed tile in front entry Replaced all window screens garden level to 3rd floor Resurfaced parking lot Replaced all water heaters Replaced boiler Finished former men's club into loft style apartment with 14 FT ceilings and wine cellar Tinted storefront windows on Main Street Replaced apartment carpet/flooring in 85% of apartments Furnished all apartments with entirely new furniture including beds, nightstands, lamps, dining tables and chairs, sofas and seating Installed Smart TV in each apartment Replaced centralized fire / smoke monitoring with addressable Honeywell system Honeywell keycard access system Installed building-wide internet and Wi-Fi 6. Rents as of 2023 range between $950/month and $1,500/month. We have no vacancies and a waiting list for future tenants.

Property Details

County
Prowers
Year Built
1937
Listing Office
PARK PROPERTIES REALTY LLC
Office Contact
303-912-0227

Pam Cass

Broker Associate / Partner

970-222-6025

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Interior


Exterior

Construction
Brick
Concrete
Roof
Spanish Tile

Lot & Land

Water/Sewer
Public
Location Description
Corner Lot
Landscaped
Near Public Transit

Additional Property Details

Number of Parking Spaces
11
Tax Year
2022
Property Taxes (yearly)
3,602

Green/Energy Features
Utilities
Cable Available
Electricity Available
Electricity Connected
Natural Gas Available
Natural Gas Connected
High Speed Internet Available
Phone Available
Phone Connected
Sewer Connected
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Before purchasing investment property be sure to consult with your legal and tax advisor. The Group, Inc. cannot make any guarantees about return on investment.


Listing Courtesy of
PARK PROPERTIES REALTY LLC

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