Lake City, MI Multifamily properties for sale

Updated: Apr 15, 2025

Eight-Unit Apartment Building

1341 S Lakeshore Drive, Lake City, MI 49651

$420,000

4,880 sqft 2.11 AC lot

Eight‑unit layout with 6 double‑bed units and 2 king‑bed units
Each unit includes a kitchenette and full bath
2.11‑acre lot with room for additional units
80 x 34 pool house with separate men’s and women’s bathrooms
56 x 24 pole barn for storage or other rental use

View details

Updated: Apr 20, 2025

Turnkey Multifamily with Expansion Potential

Lake City, MI 49651

$420,000

2,448 sqft 2.11 AC lot

Turnkey, fully rented 8‑unit apartment complex providing immediate, stable income.
Significant expansion potential on a 2.11‑acre lot.
High‑visibility location on M‑66/S. Lakeshore Drive.
Includes an 80 x 34 pool house, suitable for restoration or conversion.
Proximity to Lake Missaukee, downtown Lake City, and other Northern Michigan attractions.

View details

Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Based on your search, we've compiled 6 Potential Opportunities for your consideration. Besides 2 Active listings in Lake City, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities

Opportunities in Nearby Cities

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

Updated Triplex with Parking

415 E Harris Street, Cadillac, MI 49601

$199,900

2,314 sqft 0.15 AC lot

Fully occupied three-unit property with separate entrances, alley access, and a current municipal rental certificate.

View details

Corner-Lot Duplex

615 Maple St, Cadillac, MI 49601

$199,900

Two separately configured rental units with shared laundry, private parking features, and updated major systems.

View details

Turnkey Duplex with Off-Street Parking

810 E Division St, Cadillac, MI 49601

$185,000

Two 2-bedroom, 1-bath units share a basement with laundry and each unit has dedicated storage.

View details

Duplex with Flexible Lower Unit

821 Cotey, Cadillac, MI 49601

$149,000

Two-unit property with an occupied upper residence and a lower unit ready for occupancy or leasing.

View details

Lake City, MI Multifamily Properties Market Trends and Statistics

Explore 2 multifamily properties for sale in Lake City, MI on our real estate platform. These investment opportunities span a total of 7,328 square feet of properties for sale, with an estimated market value of $840,000.

Sale prices for multifamily properties in Lake City, MI average $420,000 — 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
49651	$420K

Neighborhood

Average Price

49651

$420K