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416 Michigan, 
Storm Lake, IA 50588

$329,000


Bed


Bath


5,015

Sq Ft


Multi-Family

Active

Listed by

Adam Doughan

Real Broker, LLC.

515-305-2577

Last updated:

December 10, 2025, 04:06 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:$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.

Home Facts

Multi-Family

Built in 1955

Price Summary

329,000

$65 per Sq. Ft.

MLS #:

830407

Last Updated:

December 10, 2025, 04:06 PM

Added:

2 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:

$329,000

Price per Sq. Ft:

$65 per Sq. Ft.

Source:IA GSCBOR
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