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416 Michigan, Storm Lake, IA 50588

Local realty services provided by:CENTURY 21 ProLink
416 Michigan,Storm Lake, IA 50588
$329,000
  • - Beds
  • - Baths
  • 5,015 sq. ft.
  • Multi-family
  • Active
Listed by: adam doughan
Office: real broker, llc.
MLS#:830407
Source:IA_GSCBOR

Price summary

  • Price:$329,000
  • Price per sq. ft.:$65.6

About this home

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.

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Home facts

  • Year built:1955
  • Listing ID #:830407
  • Added:114 day(s) ago
  • Updated:December 20, 2025 at 04:33 PM

Rooms and interior

  • Living area:5,015 sq. ft.

Heating and cooling

  • Cooling:Window Unit
  • Heating:Baseboard

Structure and exterior

  • Year built:1955
  • Building area:5,015 sq. ft.
  • Lot area:0.17 Acres

Utilities

  • Water:City
  • Sewer:City

Finances and disclosures

  • Price:$329,000
  • Price per sq. ft.:$65.6
  • Tax amount:$5,650

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