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Alamo Apartments

322 South Main Street, Lamar, CO, USA

For Sale

$4,500,000

Property Description

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. In its earliest days, hotel guests were greeted by bellhops, their luggage unpacked into guest room dressers, and the bags tucked into the basement baggage room. Some of Lamar’s very oldest residents of Lamar reminisce about Sunday dinners at the Alamo’s restaurant.…a kind of semi formal dinner-at-the-country-club-with-grandmama scene.


The distinguished Tuscan architecture stands tall (3 stories) across from the Prowers County Courthouse. In the mid-1980s, the property was converted by the Housing Authority into senior residences. AC and an elevator was added. Another 15 years passed, and the building again became privately-owned.


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.

Contact Agent

Jarod Clark

(720) 536-8670 x3

Property Details

Property Type

Mulit-Family Commercial

Bedrooms

26

Bathrooms

26

Size

21,807 SF

Floors

4

Year Built

1937

Property Location

322 South Main Street, Lamar, CO, USA

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