Elk Rapids, MI Multifamily properties for sale

Updated: Sep 4

Cottage Resort Near Bay

917 S Bayshore Drive, Elk Rapids, MI 49629

$1,750,000

4,000 sqft 5.88 AC lot

10 individual cottages, with 9 currently participating in the rental program
Accommodations range from a 160‑square‑foot efficiency to a two‑bedroom retreat
Cottages can collectively host up to 28 guests
4,000 square feet of property improvements
Across from Elk Rapids Day Park with public access to a quarter‑mile East Grand Traverse Bay shoreline

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Updated: Aug 13

Restored Cottage Court Resort

917 S Bayshore Drive, Elk Rapids, MI 49629

$1,750,000

4,000 sqft 5.88 AC lot

Restored 1938 cottage court with 10 individual cottages
Nine cottages currently participate in the rental program
Guest accommodations range from a 160‑square‑foot efficiency to a two‑bedroom retreat
Combined lodging capacity of up to 28 guests
New flooring, electrical, and plumbing throughout the cottages

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4-Unit Quadplex with Updated Systems

10456 S Us-31 S, Elk Rapids, MI 49629

$850,000

700 sqft

Four existing residences have updated exterior components and mechanical systems, with interior finishes left for the next owner.

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Restored Cottage Court Resort

917 S Bayshore Drive, Elk Rapids, MI 49629

$1,750,000

5.00 AC lot

Ten renovated cottages with shared outdoor gathering areas sit across from public beach access.

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Mixed-Use Property with Garage

312 Pine Street, Elk Rapids, MI 49629

$495,000

3,475 sqft

R-2-zoned property with grandfathered commercial use and potential for residential or approved community-oriented conversion.

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Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 5 Active listings in Elk Rapids, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 1 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.

Updated Duplex with Ranch Layout

7228 S M-88, Bellaire, MI 49615

$394,000

1,784 sqft 1.00 AC lot

Two residential units include remodeled kitchens, bathrooms, and dedicated laundry areas.

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Updated Duplex with Two Units

7228 S M-88, Bellaire, MI 49615

$394,000

1,784 sqft 1.00 AC lot

Ranch-style duplex with refreshed kitchens, remodeled bathrooms, and laundry accommodations serving both units.

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Mixed-Use Development Site

4160 M-72 E, Williamsburg, MI 49690

$1,995,000

12,259 sqft 4.35 AC lot

Approved mixed-use plan with an existing building and fully developed underground site infrastructure.

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Scandinavian-Inspired Resort and Event Center

5961 E Oslo Street, Williamsburg, MI 49690

$12,900,000

1,780 sqft 18.16 AC lot

Resort campus with cottages, hospitality facilities, event space, and approved mixed-use expansion capacity near Grand Traverse Bay.

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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.

Elevated Farmland Development Parcel

Parcel C E Duck Lake Road, Suttons Bay, MI 49682

$2,400,000

74.20 AC lot

Developable farmland parcel offers ridge-top elevation and multi-directional water views near Suttons Bay.

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Elk Rapids, MI Multifamily Properties Market Trends and Statistics

Explore 5 multifamily properties for sale in Elk Rapids, MI, showcased through 5 active listings on our real estate platform. These investment opportunities span a total of 12,175 square feet of properties for sale, with an estimated market value of $6,595,000.

Sale prices for multifamily properties in Elk Rapids, MI start at $495,000, averaging $1,319,000, and reaching up to $1,750,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
49629	$1.4M

Neighborhood

Average Price

49629

$1.4M