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    Alma, MI
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    Alma, MI Multifamily Properties for Sale

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    Remodeled 1.5-Story Duplex
    Updated: Jun 18
    Remodeled 1.5-Story Duplex

    313 Pleasant Avenue, Alma, MI 48801

    $160,000
    1,280 sqft 0.34 AC lot
    Remodeled 1.5‑story duplex built in 1967 with two separate units
    Lower unit: 2 bedrooms, 1 bathroom, living room, kitchen, and back deck
    Upper unit: 1 bedroom, 1 bathroom, living room, and kitchen
    Major updates since Fall 2024 include new flooring and paint, one furnace, electrical, numerous plumbing updates, and updated lighting
    Metal roof with frame construction, plus sidewalk and gutters
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    Two-Story Fourplex Income Property
    Updated: Jul 3
    Two-Story Fourplex Income Property

    316 Euclid Street, Alma, MI 48801

    $149,000
    1,290 sqft 0.25 AC lot
    Well‑maintained 2‑story four‑plex built in 1949
    Three of four units are currently occupied; fourth unit has a potential tenant awaiting buyer approval
    Each unit has its own electrical panel and meter, plus a separate furnace/heat source
    Tenants pay their own utilities to help keep operating costs low
    Current market rents exceed $2,000 per month
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    Top-Bottom Duplex Investment
    Top-Bottom Duplex Investment

    230 Ely Street, Alma, MI 48801

    $50,043
    3,720 sqft 0.13 AC lot

    Top-bottom duplex requiring full rehabilitation, offering two-bedroom, one-bath units in a residential multi-family zone.

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    Mixed-Use Property with Income Potential
    Mixed-Use Property with Income Potential

    Alma, MI 48801

    $375,000
    3.45 AC lot

    3.45-acre property with residential and commercial rental income.

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    Remodeled 8-Unit Apartment Building
    Remodeled 8-Unit Apartment Building

    421 N State Street, Alma, MI 48801

    $899,000
    10,320 sqft 0.23 AC lot

    Fully leased, remodeled eight-unit multifamily property with a mix of one- and two-bedroom apartments.

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    Mixed-Use Multi-Family with Retail
    Mixed-Use Multi-Family with Retail

    5705 N State Road, Alma, MI 48801

    $375,000
    2,579 sqft 3.45 AC lot

    Four fully rented apartments plus a leased commercial building provide combined residential and income-producing space.

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    Mixed-Use Property with Storefront
    Mixed-Use Property with Storefront

    5705 N State Road, Alma, MI 48801

    $375,000
    23,443 sqft 3.45 AC lot

    3.45-acre mixed-use property with four rented apartment units, a storefront commercial space, and multiple outbuildings.

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    Fire-Damaged Duplex With Rehab
    Fire-Damaged Duplex With Rehab

    230 Ely St, Alma, MI 48801

    $50,043
    3,720 sqft

    Top/bottom duplex requiring full rehabilitation, offering a blank-slate interior to support your customized renovation plan.

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    3-4 Unit Renovation Property
    3-4 Unit Renovation Property

    318 Woodworth Avenue, Alma, MI 48801

    $138,000
    0.32 AC lot

    Gutted and ready for renovation, offering the flexibility to create up to four rental units with off-street parking and outdoor space.

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    Remodeled 1.5-Story Duplex
    Remodeled 1.5-Story Duplex

    313 Pleasant Ave, Alma, MI 48801

    $160,000

    Remodeled duplex with two separate units and updates including flooring, paint, electrical, and plumbing.

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    Alma Investment Opportunity: Multi-Unit Potential
    Alma Investment Opportunity: Multi-Unit Potential

    318 Woodworth Avenue, Alma, MI 48801

    $138,000

    3-4 unit property in Alma, MI, ready for renovation.

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    Based on your search, we've compiled 19 Potential Opportunities for your consideration. Besides 11 Active listings in Alma, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

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

    Historic Multi-Family with Four Units
    Historic Multi-Family with Four Units

    323 W Wright Avenue, Shepherd, MI 48883

    $489,000
    5,000 sqft 0.68 AC lot

    Historic 4-unit configuration with basement, side yard, and parking for flexible rental or owner-occupied income use.

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    Historic Mixed-Use Building
    Historic Mixed-Use Building

    323 W Wright Avenue, Shepherd, MI 48883

    $489,000
    5,200 sqft 0.68 AC lot

    For sale with operating retail and furnished short-term rentals plus parking and a vacant side lot.

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    Two-Unit Duplex Investment Property
    Two-Unit Duplex Investment Property

    Saint Louis, MI 48880

    $119,000
    1,200 sqft 0.18 AC lot

    Well-maintained duplex with one occupied unit and one vacant unit, offering immediate and flexible rental use.

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    Historic St. Louis Home
    Historic St. Louis Home

    Saint Louis, MI 48880

    $249,000
    1,500 sqft

    Remodeled home with attached apartment near downtown St. Louis.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Residential Land in Riverdale
    Residential Land in Riverdale

    N Lumberjack Road, Riverdale, MI 48877

    Contact for pricing
    0.67 AC lot

    Vacant residential land suitable for building or mobile home placement.

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    Sanford Vacant Land with Utilities
    Sanford Vacant Land with Utilities

    978 timberlynn trail, Sanford, MI 48657

    Contact for pricing
    0.80 AC lot

    Two lots with water and electric hookups, lake access.

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    Private Campground Lot with Hookups
    Private Campground Lot with Hookups

    4537 Pine Run, Farwell, MI 48622

    $41,500
    0.75 AC lot

    Residentially zoned camping lot with three 30-amp electric hookups and septic connections, already prepped with pads.

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    Expansive Land with Development Potential
    Expansive Land with Development Potential

    VL N Fleming Road, Fowlerville, MI 48836

    $6,900,000
    354.27 AC lot

    350+ acres of prime land with two scenic lakes.

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    Alma, MI Multifamily Properties Market Trends and Statistics

    Explore 11 multifamily properties for sale in Alma, MI, showcased through 11 active listings on our real estate platform. These investment opportunities span a total of 46,352 square feet of properties for sale, with an estimated market value of $2,058,086.

    Sale prices for multifamily properties in Alma, MI start at $50,043, averaging $294,012, and reaching up to $899,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 4
    Quadplexes 4
    Apartment buildings 3
    Triplexes 1

    Demographics Overview

    Population 13K
    Population Growth (5Y) +5.6%
    Median Household Income $57,449
    College Educated 19.2%

    High-Yield Neighborhoods for Investment

    Identify Alma submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    48801 $334.9K

    Taxes & Financing

    Tax Rate (average for all types) 4.53%
    Tax Rate vs County Average 0.57 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Gratiot County

    New Delisted

    Total CRE Inventory on Market (SF)

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