Multifamily Property with Rental
For Sale
$499,000
512 S Lake Shore Drive, Lake Leelanau, MI 49653
R-3 High Density Residential zoning and access from two streets support the property's existing residential configuration.
Property Size2,056 SF
Lot Size2.51 Acres
Days on Market8
Property Features for 512 S Lake Shore Drive
General Information
Standard status
Active
Size
2,056 SF
Lot size
2.51 Acres
Property subtype
Multi Family
Zoning
R-3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,656
Building Details
Building Size
2,056 SF
Year Built
1900
Listing Agency:
Schaub Team Premier Realty
Listed By:
Melanie Schaub · License #6501307989
(231) 883-5555
Source:
Patobrien
Added: Oct 21
Changed: Oct 27
Last Checked: Oct 28 at 4:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Schaub Team Premier Realty
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Investment Insights
Based on property information with market context.
This 2.51-acre multifamily property in Lake Leelanau includes three rental units, one of them studio-style, as well as two trailers. Each trailer has two bedrooms and one bathroom. The land is zoned R-3 High Density Residential in Leland Township.
Access is available from both S Lake Shore Drive and St. Joseph Street. Restaurants, wineries, a distillery, a grocery store, a school, and a church are within walking distance.
Access is available from both S Lake Shore Drive and St. Joseph Street. Restaurants, wineries, a distillery, a grocery store, a school, and a church are within walking distance.
Key Highlights
- 2.51‑acre property zoned R‑3 High Density Residential in Leland Township
- Three rental units, including one studio‑style unit
- Two trailers, each with 2 bedrooms and 1 bathroom
Property Analytics
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Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
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Business Placement
Demographics for 49653, MI
2,020
Population
1,523
Households
1.3
Avg Household Size
54
Median Age
51%
College-Educated
99%
High-School Grad
27.8 sq mi
ZIP Area
73
Density / Sq Mi
$84,954
Median Household Income
$35,993
Median Earnings
$889
Median Rent
$532,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - R-3 High Density Residential zoning and access from two streets support the property's existing residential configuration.
Where is this multifamily property located?
The property is located at 512 S Lake Shore Drive Lake Leelanau, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2.51‑acre property zoned R‑3 High Density Residential in Leland Township; Three rental units, including one studio‑style unit; Two trailers, each with 2 bedrooms and 1 bathroom
