416 Michigan new Save Request In-Person Tour Request Virtual Tour
Storm Lake,IA 50588
Key Details
Property Type Multi-Family
Sub Type Multi-Unit
Listing Status Active
Purchase Type For Sale
Square Footage 5,015 sqft
Price per Sqft $65
MLS Listing ID 830407
Bedrooms 10
Full Baths 6
Year Built 1955
Annual Tax Amount $5,650
Tax Year 2024
Lot Size 7,405 Sqft
Property Sub-Type Multi-Unit
Property Description
6-Unit Property. Exterior Parking. Great Investment Opportunity. This 6-unit complex is a great investment. 2 units are one bedroom, one bathroom, while 4 units are two bedrooms, one bathroom . All units have a living space and kitchen/dining. Market Rent Roll: $4,400. Actual Rent Roll:$2,400 (just recently had turnover with three vacant units currently, refer to T12 to see strong history of property). There is a separate shared laundry space that contains a coin-operated washer and dryer. This is located in the basement. This yields approximately $610/yr. Tenant pays for: Electric. Owner pays for: Electric for common space $86/mo, Water/Sewer $711, Gas $96/mo, Garbage: $93/month. Taxes: $5,650/year. Lawn/Snow Removal: $94/month. Security deposits will be included upon closing. There is ample exterior parking available for tenants.
Location
State IA
County Buena Vista
Area Surrounding Areas/Other Areas
Zoning Res
Multi-Unit Info
Total Units 6
Unit 1 Information SqFt: 560; Bedroom: 1; Bathroom: 1; FullBath: 1
Unit 2 Information SqFt: 560; Bedroom: 1; Bathroom: 1; FullBath: 1
Unit 3 Information SqFt: 800; Bedroom: 2; Bathroom: 1; FullBath: 1
Unit 4 Information SqFt: 800; Bedroom: 2; Bathroom: 1; FullBath: 1
Interior
Heating Baseboard
Cooling Window Unit
Exterior
Parking Features None
Building
Sewer City
Water City