Lake City, MI Apartment buildings for sale

Updated: Apr 15, 2025

8-Unit Multifamily Apartment Building

1341 S Lakeshore Drive, Lake City, MI 49651

$420,000

4,880 sqft 2.11 AC lot

Fully occupied 8‑unit apartment building with 6 double‑bed units and 2 king‑bed units
2.11‑acre lot with room to build additional units
Approximately 2,448 SF total living space
80 x 34 pool house with separate men’s and women’s bathrooms
56 x 24 pole barn for storage rental or added income

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Updated: Apr 20, 2025

Turnkey Multifamily with Expansion Potential

Lake City, MI 49651

$420,000

2,448 sqft 2.11 AC lot

Turnkey, fully rented 8‑unit apartment complex providing immediate, stable income.
Significant expansion potential on a 2.11‑acre lot.
High‑visibility location on M‑66/S. Lakeshore Drive.
Includes an 80 x 34 pool house, suitable for restoration or conversion.
Proximity to Lake Missaukee, downtown Lake City, and other Northern Michigan attractions.

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Based on your search, we've compiled 6 Potential Opportunities for your consideration. Besides 2 Active listings in Lake City, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Fifteen-Unit Apartment Building

1019 E Broadway Street, Mt Pleasant, MI 48858

$969,900

13,200 sqft 1.35 AC lot

Fifteen-unit multifamily property with frame construction, an asphalt roof, and established residential zoning.

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10-Unit Apartment Property Package

411 S SIMON STREET, Cadillac, MI 49601

$575,000

1,500 sqft

Three nearby multifamily properties provide 10 rental units with off-street parking and established leasing activity.

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10-Unit Apartment Building Package

411 S Simon Street, Cadillac, MI 49601

$575,000

0.14 AC lot

Three nearby rental properties offer established occupancy, off-street parking, and convenient access to downtown Cadillac.

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Fully Leased 5-Unit Multifamily

501 S University, Mt Pleasant, MI 48858

$329,900

3,725 sqft 0.18 AC lot

Fully occupied five-unit investment property with separate utilities, off-street parking, and leases in place through 2027.

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Lake City, MI Apartment Buildings Market Trends and Statistics

Explore 2 apartment buildings for sale in Lake City, MI on our real estate platform. These investment opportunities span a total of 7,328 square feet of properties for sale, with an estimated market value of $840,000.

Sale prices for two-family homes in Lake City, MI average $420,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
49651	$420K

Neighborhood

Average Price

49651

$420K