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    Alma, MI Multifamily Properties for Sale

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    Multifamily Property with Covered Deck
    Updated: Jul 30
    Multifamily Property with Covered Deck

    430 Bridge Avenue, Alma, MI 48801

    $305,000
    4,288 sqft 0.32 AC lot
    0.32‑acre lot with large concrete driveway and RV parking
    Main home: 4 bedrooms, 2 bathrooms, two full kitchens, first‑floor laundry
    1,021 SF basement for storage
    Newer 1,176 SF apartment: 2 beds, 2 baths, large covered deck
    Two single‑room studio units plus 13 x 38 storage/workshop
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    Two-Story Triplex with Covered Porch
    Updated: Jul 28
    Two-Story Triplex with Covered Porch

    310 W Superior Street, Alma, MI 48801

    $184,000
    1,700 sqft 0.23 AC lot
    Three‑unit triplex with three one‑bedroom, one‑bath apartments
    1,700 square feet on a 0.23‑acre parcel
    Two main‑floor apartments and one upper‑level apartment
    Separate gas and electrical meters for each apartment
    Built in 1967 with frame construction and asphalt roof
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    Two-Building Multifamily Property
    Two-Building Multifamily Property

    1107 Michigan Avenue, Alma, MI 48801

    $275,000
    2,782 sqft 0.29 AC lot

    Residentially zoned offering combining a former church and neighboring parsonage with separate living areas.

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    Turnkey 8-Unit Apartment Building
    Turnkey 8-Unit Apartment Building

    421 N State St, Alma, MI 48801

    $899,000
    0.23 AC lot

    Fully leased, remodeled 8-unit apartment building with steady income.

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    Remodeled Duplex with Two Units
    Remodeled Duplex with Two Units

    313 Pleasant Avenue, Alma, MI 48801

    $154,900
    1,280 sqft 0.34 AC lot

    The two residences include separate kitchens and living rooms, with a rear deck serving the lower unit.

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    Two-Unit Frame Duplex
    Two-Unit Frame Duplex

    221 Woodworth Avenue, Alma, MI 48801

    $89,900
    2,900 sqft 0.25 AC lot

    Two-story frame property with two bathrooms and fixer-upper condition, zoned for multifamily use.

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    Top-Bottom Duplex Fixer-Upper
    Top-Bottom Duplex Fixer-Upper

    230 Ely Street, Alma, MI 48801

    $50,043
    3,720 sqft 0.13 AC lot

    Top/bottom duplex with two 2-bed, 1-bath units requiring full rehabilitation after a recent fire.

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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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    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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    Two-Story Four-Unit Quadplex
    Two-Story Four-Unit Quadplex

    316 Euclid Street, Alma, MI 48801

    $144,000
    1,290 sqft 0.25 AC lot

    Separate utility metering and individual heating systems support straightforward unit-level operations.

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    Quadplex with Apartment and Studios
    Quadplex with Apartment and Studios

    430 Bridge Ave, Alma, MI 48801

    $305,000

    Four-unit property combines a primary residence, apartment, and two studio units with substantial storage and parking.

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    Quadplex with Commercial Storefront
    Quadplex with Commercial Storefront

    5705 N State Road, Alma, MI 48801

    $375,000
    2,579 sqft 3.45 AC lot

    Mixed-use quadplex with commercial store frontage, office space, and multiple outbuildings on 3.45 acres.

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    Multifamily Renovation Property
    Multifamily Renovation Property

    318 Woodworth Avenue, Alma, MI 48801

    $138,000
    0.32 AC lot

    Gutted multifamily property with completed demolition work and room for a new interior configuration.

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    Three-Unit Apartment Property
    Three-Unit Apartment Property

    310 W Superior St, Alma, MI 48801

    $184,000

    Well-maintained investment property with separate gas and electrical meters for each apartment.

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    Remodeled 1.5-Story Duplex
    Remodeled 1.5-Story Duplex

    313 Pleasant Ave, Alma, MI 48801

    $154,900

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

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

    5705 N State Road, Alma, MI 48801

    $375,000
    2,579 sqft 3.45 AC lot

    3.45-acre property with residential and commercial rental income.

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    Duplex Income Property
    Duplex Income Property

    221 Woodworth Ave, Alma, MI 48801

    $89,900

    Built in 1950, the property offers walkable access and moderate bicycle connectivity near downtown Alma.

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    Based on your search, we've compiled Potential Opportunities for your consideration. Besides 17 Active Listings in Alma, MI

    Alma, MI Multifamily Properties Market Trends and Statistics

    Explore 17 multifamily properties for sale in Alma, MI, showcased through 17 active listings on our real estate platform. These investment opportunities span a total of 37,158 square feet of properties for sale, with an estimated market value of $4,672,686.

    Sale prices for multifamily properties in Alma, MI start at $50,043, averaging $274,863, 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

    Apartment buildings 6
    Duplexes 6
    Quadplexes 4
    Triplexes 2

    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 $274.9K

    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%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Gratiot County

    Residential Income

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