505 Lake Ave., Storm Lake, IA 50588

$263,000
Sold Price
$263,000
List Price
$294,000

Property Description

$1000 PRICE REDUCTION AND OWNER HAS SECURED A TENANT FOR THE FIRST FLOOR THROUGH FEB. 2025 AT $1400 PER MONTH. This nicely remodeled commercial building on Lake Ave. was substantially remodeled in 2017/2018 and has an excellent rental history. The main floor includes a reception area, 6 offices, a conference room, a storage room, kitchen area, and restroom. The upstairs has 3 apartments including a 1 bedroom at $675 per month, a 2 bedroom at $750 per month, and a 2 bedroom at $750 per month. All tenants pay utilities except garbage dumpster. Each unit has its own furnace, A/C, and water heater. Kitchen appliances and stack washer/dryer included with each apartment. Seller would consider leasing this property.

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Listing courtesy of Real Estate Specialists. Selling Office: .