6-Unit Property: 416 Michigan, Storm Lake
Multifamily | 6 Units
Marketing description
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:$3,200 (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 $400/yr. Tenant pays for: Electric. Owner pays for: Electric for common space $130/mo, Water/Sewer $650/mo, 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.
Investment highlights
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:$3,200 (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 $400/yr. Tenant pays for: Electric. Owner pays for: Electric for common space $130/mo, Water/Sewer $650/mo, 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.
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