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    Alma, MI Residential Income Properties for Sale

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    Saint Louis, MI Ithaca, MI Elwell, MI
    11 listings
    Remodeled 1.5-Story Duplex
    $160,000
    1,280 SF
    Remodeled 1.5-Story Duplex

    313 Pleasant Avenue, Alma, MI 48801

    Updated duplex with two separate units, offering flexible rental layout and a deep backyard for added outdoor space.
    • Remodeled 1.5‑story duplex with a basement
    • Lower unit features 2 bedrooms, a bathroom, living room, back deck, and kitchen
    • Upper unit features 1 bedroom, 1 bathroom, living room, and kitchen
    • Major updates since Fall 2024 include flooring, paint, one furnace, electrical, plumbing, and lighting
    • Kitchen appliances include dishwasher, range, refrigerator, and washer
    Updated: Jun 18
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    Two-Unit Top/Bottom Duplex
    $50,043
    3,720 SF
    Two-Unit Top/Bottom Duplex

    230 Ely Street, Alma, MI 48801

    Two-bedroom, one-bath units needing full rehabilitation after a recent fire.
    • Top/bottom duplex on Alma’s south side with interior damaged by a recent fire, ready for a full rehabilitation
    • Each unit is 2 bed, 1 bath
    • Approximately 3,720 total SF with space to rework finishes and layout during renovation
    • Forced air heating; roof includes asphalt and metal
    • Seller offers a $10,000 credit held in escrow and released upon completion of at least 50% of the reconstruction
    Updated: Jun 7
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    Turnkey Investment: Leased Apartment Building
    $899,000
    10,320 SF
    Turnkey Investment: Leased Apartment Building

    Fully leased 8-unit apartment building with strong rental income.

    421 N State Street, Alma, MI 48801

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    Mixed-Use Property with Income Potential
    $440,000
    3.45 Acres
    Mixed-Use Property with Income Potential

    3.45-acre property with residential and commercial rental income.

    Alma, MI 48801

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    Remodeled 1.5-Story Duplex
    $160,000
    Remodeled 1.5-Story Duplex

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

    313 Pleasant Ave, Alma, MI 48801

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    Mixed-Use Property with Rental Income
    $375,000
    2,579 SF
    Mixed-Use Property with Rental Income

    3.45-acre property with residential and commercial rental income.

    5705 N State Road, Alma, MI 48801

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    Mixed-Use Property with Income Potential
    $375,000
    23,443 SF
    Mixed-Use Property with Income Potential

    3.45-acre mixed-use property with residential and commercial income.

    5705 N State Road, Alma, MI 48801

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    Alma Investment Opportunity: Multi-Unit Potential
    $138,000
    0.32 Acres
    Alma Investment Opportunity: Multi-Unit Potential

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

    318 Woodworth Avenue, Alma, MI 48801

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    Fire-Damaged Duplex With Rehab
    $50,043
    3,720 SF
    Fire-Damaged Duplex With Rehab

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

    230 Ely St, Alma, MI 48801

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    Turnkey 8-Unit Apartment Building
    $899,000
    10,320 SF
    Turnkey 8-Unit Apartment Building

    Fully leased, remodeled 8-unit apartment building generating over $67,000 annually.

    421 N State Street, Alma, MI 48801

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    Alma Multifamily Renovation Opportunity
    $138,000
    0.32 Acres
    Alma Multifamily Renovation Opportunity

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

    318 Woodworth Avenue, Alma, MI 48801

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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.

    Automotive Business with Residential Home
    $279,900
    7,775 SF
    Automotive Business with Residential Home

    Commercial property with auto shop, outbuilding, and residential home.

    Saint Louis, MI 48880

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    Historic St. Louis Home
    $249,000
    1,500 SF
    Historic St. Louis Home

    Remodeled home with attached apartment near downtown St. Louis.

    Saint Louis, MI 48880

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    Investment
    $160,000
    Investment

    Quadplexes

    302 N Pine River St, Ithaca, MI 48847

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    Well-Maintained Duplex on Corner Lot
    $99,900
    Well-Maintained Duplex on Corner Lot

    Reliable investment property with strong rental history and remodeled features.

    501 N Pine River St, Ithaca, MI 48847

    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.

    Vacant Corner Lot Near US-127
    Contact for pricing
    0.19 Acres
    Vacant Corner Lot Near US-127

    Vacant residential lot with high-traffic exposure near US-127.

    1532 E Superior Street, Alma, MI 48801

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    Residential Corner Lot in Alma
    Contact for pricing
    0.10 Acres
    Residential Corner Lot in Alma

    Corner lot suitable for residential development with city variance approval.

    427 E Downie Street, Alma, MI 48801

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    Residential Lot in Gemstone Fields
    Contact for pricing
    0.54 Acres
    Residential Lot in Gemstone Fields

    Vacant lot for building a new home in Alma, MI.

    248 Ruby Court, Alma, MI 48801

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    Residential Land in Alma, MI
    Contact for pricing
    0.41 Acres
    Residential Land in Alma, MI

    Vacant lot for building a new home in Alma.

    278 Ruby Court, Alma, MI 48801

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    Alma, MI Residential Income Properties Market Trends and Statistics

    Explore 11 residential income properties for sale in Alma, MI, showcased through 11 active listings on our real estate platform. These investment opportunities span a total of 55,382 square feet of properties for sale, with an estimated market value of $2,808,086.

    Sale prices for residential income properties in Alma, MI start at $50,043, averaging $401,155, 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

    Multifamily properties 14
    Apartment buildings 6
    Duplexes 4
    Quadplexes 2
    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 $466.3K

    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)

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