416 Michigan, Storm Lake, IA 50588
416 Michigan, Storm Lake, IA 50588
416 Michigan, Storm Lake, IA 50588
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$260,000
Est. payment /mo
10 Beds
6 Baths
5,015 SqFt
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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 $51

MLS Listing ID 833706

Bedrooms 10

Full Baths 6

Year Built 1955

Annual Tax Amount $5,650

Tax Year 2024

Lot Size 7,405 Sqft

Acres 0.17

Property Sub-Type Multi-Unit

Property Description

6-Unit Property. Exterior Parking. Great Investment Opportunity. 100% Occupied. 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. MarketRent Roll: $4,400. Actual Rent Roll:$4,400 (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 $400yr. Tenant pays for: Electric.Owner pays for: Electric for common space $130/mo, Water/Sewer $680, Gas $56/mo, Garbage: $93/month. Taxes: $5,650/year. Lawn/Snow Removal: $140/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

Building

Sewer City

Water City


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Michelle Maloney

Michelle Maloney

+1(605) 677-9006

Broker | License ID: 14315

Broker License ID: 14315

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