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About This Home
This 10-bedroom, 6-bathroom residential multi family at 416 Michigan in Storm Lake, IA is listed for $285,000 ($57 per sqft). Built in 1955, the home offers 5,015 sqft of living space on a 0.17 acres lot.
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.
Market Rent 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..
Key Features
- Built in 1955
- 0.17 acre lot
Property Details
Amenities
Monthly Cost Estimate
$1,525/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
416 Michigan
Storm Lake, IA 50588
Property Details
Heating
Cooling
Questions & Answers
This 10-bedroom, 6-bathroom residential multi family at 416 Michigan is listed at $285,000 ($57/sqft). The estimated monthly payment is $1,236 based on 20% down at 6.5% interest.
HOA fees are $1/month.
Key features include: Built in 1955, 0.17 acre lot.
This property is listed by Adam Doughan and can be reached at 7124416097 or office@opendoor.company.