8-Unit Multifamily Apartment
For Sale
$420,000
Pending
1341 S Lakeshore Drive, Lake City, MI 49651
COMMERCIAL - Lake City, MI
Property Size4,880 SF
Lot Size2.11 Acres
Days on Market493
Property Features for 1341 S Lakeshore Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 8, Bathroom 3, Bathroom 6, Bathroom 10, Bathroom 4, Bathroom 7, Bathroom 2, Bathroom 1, Bathroom 5, Bathroom 9
Parking
8
Parking features
Parking Lot, Assigned
Exterior features
Wood
Lot features
Freestanding
Directions
From Lake City, head south on Main St toward John St. Continue for 1.1 mile. Destination is on the left.
Subdivision
Missaukee
Standard status
Pending
Size
4,880 SF
Lot size
2.11 Acres
Taxes and HOA fees
Tax Description
See Lengthy Legal
Tax Annual Amount
4812
Legal Description
See Lengthy Legal
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
City2Shore Real Estate Northern Michigan
(231) 839-0077
Listed By:
Tamara McLeod Helsel · License #6502410127
(231) 920-6422
Added: Apr 15, 2025
Changed: Aug 4
Last Checked: Aug 20 at 8:06PM
MLS# 1932558
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Turnkey 8-unit multifamily apartment building on a 2.11-acre lot, fully occupied and currently configured with six double-bed units and two king-bed units. Each unit includes a kitchenette and full bath. The property totals approximately 2,448 square feet of living space and is built with frame construction, a wood exterior, and an asphalt roof. On-site parking is provided with assigned spaces in a parking lot.
The grounds include an 80 x 34 pool house with separate men’s and women’s bathrooms. The structure can be restored as an indoor pool facility or considered for conversion into additional rental space. A 56 x 24 pole barn offers storage and may support rental uses.
Located on high-traffic M-66/S Lakeshore Drive on the south end of Lake City, the property sits just across the road from Lake Missaukee’s sandy shoreline and crystal-clear water. The address is 1341 S Lakeshore Drive, Lake City, MI 49651 (Missaukee County).
The grounds include an 80 x 34 pool house with separate men’s and women’s bathrooms. The structure can be restored as an indoor pool facility or considered for conversion into additional rental space. A 56 x 24 pole barn offers storage and may support rental uses.
Located on high-traffic M-66/S Lakeshore Drive on the south end of Lake City, the property sits just across the road from Lake Missaukee’s sandy shoreline and crystal-clear water. The address is 1341 S Lakeshore Drive, Lake City, MI 49651 (Missaukee County).
Key Highlights
- 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
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 49651, MI
7,881
Population
4,968
Households
1.6
Avg Household Size
46
Median Age
19%
College-Educated
92%
High-School Grad
235.5 sq mi
ZIP Area
33
Density / Sq Mi
$61,524
Median Household Income
$35,896
Median Earnings
$879
Median Rent
$165,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 8-unit apartment complex with expansion space on a 2.11-acre lot.
Where is this apartment building located?
The property is located at 1341 S Lakeshore Drive Lake City, MI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 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
