416 Michigan, Storm Lake, IA 50588
MULTI_FAMILY - Storm Lake, IA
- Added:
- Sep 23, 2025
- Days on Market:
- 264
- Last Refresh:
- Jun 13 at 7:06 pm
Property Features for 416 Michigan
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Res
- Bedrooms
- 10
- Bathrooms
- 6
- Rooms
- Bathroom 6, Bathroom 3, Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 9, Bathroom 4, Bedroom 8, Bathroom 5, Bedroom 5, Bedroom 10, Bedroom 1
- Standard status
- Active
- APN
- 1403186015
- Size
- 5,015 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- 10-32 STORM LAKE CORP HAYES 93'
- Tax Annual Amount
- 5650
Utilities
- Heating system
- Baseboard
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1955
- Number of units
- 6
Listing agent Adam Doughan License #S64819 (712) 441-6097
Listing office Real Broker, LLC 699 Walnut St 4th Floor, Des Moines, IA (515) 305-2577
Listing date Sep 23, 2025
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 6‑unit property built in 1955 with exterior parking and shared basement laundry area
- Unit mix: 2 one‑bedroom / 1‑bath units and 4 two‑bedroom / 1‑bath units
- All units include living space and kitchen/dining; 100% occupied with Actual and Market Rent Roll at $4,400
- Basement shared laundry with coin‑operated washer and dryer; estimated $400/year laundry income
- Tenants pay electric; owner pays common electric ($130/mo), water/sewer ($680), gas ($56/mo), and garbage ($93/mo)
- Heating: baseboard; cooling: window unit(s)
Overview
The property is located at 416 Michigan in Storm Lake, Iowa, on a residential-zoned site. Exterior parking is available for tenants, providing convenient access to daily needs. The current market and actual rent roll are listed as $4,400, and the property is reported to be 100% occupied. Utility responsibilities are clearly divided, with tenants paying electric and the owner covering electric for common space, water/sewer, gas, and garbage. Taxes, lawn and snow removal are also described in the offering materials.
With its combination of occupied units, defined tenant/owner utility structure, and on-site shared laundry, this property can be an attractive fit for investors seeking a small, cash-flow focused multifamily asset. The unit mix may also appeal to renters looking for either one-bedroom or two-bedroom options while keeping operations centered on the shared basement laundry and exterior parking.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Storm Lake
- County
- Buena Vista
- State
- Iowa
- Longitude
- -95.202382
- Latitude
- 42.641831
