You must see this incredible opportunity in a great location in downtown Jamestown. Right across from the nature park and just down the street from everything downtown Jamestown has to offer lies the former American Legion Building. This massive well-built building offers up 2400sf on the fully finished main level, 2400sf of unfinished basement space below and over 10,000sf of paved asphalt parking. Once inside you will find two large banquet halls, each with its own separate entrance to the exterior, its own full bathroom and one shared full kitchen. Downstairs you will find 2 large rooms, each with its own separate entrance to the exterior and its own half bathroom. The building currently has dual HVAC systems with two gas furnaces, baseboard heat, two central A/C units, gas water heater, 200amp electrical service and a basement sump pump. Property is zoned Residential (R2) with current permitted uses of single family residential or 2 unit multifamily residential. Though the property can be converted to a triplex or quad multifamily by applying for state approvals. Seller is currently pursuing permitting to convert building to a duplex with 3 bedrooms in each main floor unit, and already has architectural renderings of the building as a triplex completed, see attached drawings. This incredible building offers up tons of square footage, open space, parking, future uses and flexibility to become your next great investment. Property is a fixer-upper and will need TLC. Come see ...
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Listing Courtesy of: Keller Williams Indpls Metro N
765-336-1622
Agent licensed in IN
| Listing Id: | 22130445 |
|---|---|
| List Price: | $149,900 |
| Property Type: | Residential Income |
| Property Sub Type: | Duplex |
| Status: | Active |
| Bathrooms Full: | 0 |
| Bathrooms Half: | 0 |
| Semi Annual Property Tax Amt: | $880 |
| Lot Size Square Feet: | 4,800 |
| Lot Size Acres: | 0.45 |
| Architectural Style: | Ranch |
| Waterfront?: | No |
| City: | Jamestown |
| County Or Parish: | Boone |
| Subdivision Name: | No Subdivision |
| Postal Code: | 46147 |
| Year Built: | 1948 |
| Number Of Units Total: | 2 |
| Basement: | Yes |
| Basement: | Full, Unfinished, Walk-Out Access |
| Building Area Source: | Assessor |
| High School District: | Western Boone Co Com Sch Dist |
| Construction Materials: | Vinyl Siding |
| MLS Area Major: | Jackson |
| Cooling: | Central Air |
| Current Financing: | Conventional |
| Current Use: | Residential |
| Directions: | GPS Friendly |
| Elementary School: | Granville Wells Elementary School |
| Foundation Details: | Block |
| Heating: | Forced Air |
| High School: | Western Boone Jr-Sr High School |
| Roof: | Asphalt |
| Levels: | One |
| Acres: | 1/4-1/2 Acre |
| Affectedby Disclosures: | No |
| Insurance Expense: | $1,794 |
| Building Utilities: | Sewer, Water |
| Laundry Features: | Connections Some |
| Conversion: | No |
| Lot Features: | City Lot, Curbs, Sidewalks, Street Lights, Mature Trees |
| DPRYN: | No |
| Expenses: | 1794 |
| Gross Area SQFT: | 4800 |
| Parking Features: | Assigned, Common, Asphalt, Guest |
| Price Acre: | 333111 |
| Price Unit: | 74950 |
| Property Condition: | Fixer |
| Road Access: | Frontage Road, Street Cuts |
| Solid Waste: | No |
| Tax Exemption: | None |
| Trans Type: | Sale |
| Unit Parking: | Parking Lot, Paved Area |
| Net Operating Income: | $36,600 |
| Original List Price: | $149,900 |
| Owner Pays: | Insurance, Lawncare, Taxes |
| Parcel Number: | 060110000001038010 |
| Possession: | Closing |
| Possible Use: | Residential |
| Road Frontage Type: | City Street |
| Road Surface Type: | Asphalt |
| Special Listing Conditions: | Broker Owned, Fixer Upper |
| State Or Province: | IN |
| Structure Type: | Duplex |
| Tax Year: | 2025 |
| Tenant Pays: | All Utilities |
| Multi Baths: | 4 |
| Multi Beds: | 6 |
| Multi Rooms: | 12 |
| Fence Yn: | No |
| Low Maintenance Lifestyle Yn: | No |
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MIBOR Broker Listing Cooperative® data last updated on October 09, 2026 03:45 AM - ET
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Property Last Updated: October 09, 2026 03:45 AM - ET
