1341 S Lakeshore Drive, Lake City, MI 49651

This turnkey 8-unit multifamily property at 1341 S Lakeshore Drive features fully rented apartment homes and two useful ancillary buildings on a 2.11-acre lot. The current unit mix includes six double-bed units with kitchenettes and full baths, along with two king-bed units with kitchenettes and full baths. Total living space is approximately 2,448 square feet. An 80 x 34 pool house includes separate men’s and women’s bathrooms and can be restored as an indoor pool facility or converted into additional rentals. A 56 x 24 pole barn provides storage and has the potential to support storage-rental or added income.

The property is located on high-traffic M-66/S Lakeshore Drive on the south end of Lake City. It sits just across the road from Lake Missaukee’s sandy shoreline. The listing also notes proximity to downtown dining, shopping, and seasonal events, along with a short trip to Traverse City, Lake Michigan, ski resorts, and ORV trails.

For operators and buyers, the asset is presented as fully occupied, with stated average rent of $750 per month across the eight units. Reported monthly operating items include electric/gas at $550, garbage at $100, city water/sewer at $130, and snowplow/grass at $100, along with annual insurance of $4,200. The combination of in-place occupancy and the on-site buildings supports a practical plan for tenants today while allowing room to adapt the pool house and storage area over time.