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416 Michigan, 
Storm Lake, IA 50588

$299,000

—

Bed

—

Bath

5,015

Sq Ft

Multi-Family

Active

Listed by

Adam Doughan

Real Broker, LLC.

515-305-2577

Last updated:

March 3, 2026, 07:45 PM

MLS#

830407

Source:

IA GSCBOR

About This Home

416 Michigan

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:$3,600 (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 $650, 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.

Home Facts

Multi-Family

Built in 1955

Price Summary

299,000

$59 per Sq. Ft.

MLS #:

830407

Last Updated:

March 3, 2026, 07:45 PM

Added:

5 month(s) ago

Rooms & Interior

Interior

Living Area:

5,015 Sq. Ft.

Structure

Structure

Building Area:

5,015 Sq. Ft.

Year Built:

1955

Lot

Lot Size (Sq. Ft):

7,405

Finances & Disclosures

Finances

Price:

$299,000

Price per Sq. Ft:

$59 per Sq. Ft.

Source:IA GSCBOR
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.