50588, IA Storm Lake, 416 Michigan

General 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:$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.

Legal: 10-32 STORM LAKE CORP HAYES 93'