Multifamily Property with Rental
New
For Sale
$499,000
512 S Lake Shore Drive, Lake Leelanau, MI 49653
Multi-Family, Manufactured/Single Wide, Ranch, 1 Story, Lake Leelanau, MI
Property Size2,056 SF
Lot Size2.51 Acres
Price / SF$242.70
Days on Market4
Property Features for 512 S Lake Shore Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Residential,Multi-Family
Zoning description
Residential, Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 4
Appliances
Refrigerator, Oven/Range
Elementary school
Leland Public School
Middle school
Leland Public School
High school
Leland Public School
Elementary school district
Leland Public School District
Middle school district
Leland Public School District
High school district
Leland Public School District
Directions
From Lake Leelanau, south on S Lake Shore Dr, the property is located south of the corner of S Lake Shore & Anthony St. You can also access the property St. Joseph Street.
Subdivision
Leelanau
Standard status
Active
Size
2,056 SF
Lot size
2.51 Acres
Taxes and HOA fees
Tax Description
See associated docs. Two tax ids: 45-009-026-017-20 and 45-009-026-017-27.
Tax Annual Amount
2656
Legal Description
See associated docs. Two tax ids: 45-009-026-017-20 and 45-009-026-017-27.
Utilities
Water source
Private
Building Details
Year built
1900
Floors in Building
1
Number of units
3
Building materials
Frame
Roof type
Metal
Architectural style
Other, Ranch
Listing Agency:
Schaub Team Premier Realty
(231) 674-5950
Listed By:
Melanie Schaub
(231) 883-5555
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 24 at 1:06AM
MLS# 1951814
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.
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Investment Insights
Based on property information with market context.
The property spans 2.51 acres and includes three rental accommodations: a studio-style unit and two trailers, each with 2 bedrooms and 1 bathroom. The listed building area is 2,056 square feet. The property was built in 1900 and has frame construction, a metal roof, and a private water source.
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
- Three rental accommodations: one studio‑style unit and two trailers
- Each trailer has 2 bedrooms and 1 bathroom
- 2.51‑acre property with 2,056 square feet of building area
Property Analytics
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Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
113
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 - Access from two streets and proximity to local services complement the property's existing rental accommodations.
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: Three rental accommodations: one studio‑style unit and two trailers; Each trailer has 2 bedrooms and 1 bathroom; 2.51‑acre property with 2,056 square feet of building area
