Elk Rapids, MI Residential income 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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See hot listings in Elk Rapids

Scored against comparables nationwide. These are worth a look.

Cap Rate available after sign in

Est. NOI available after sign in

Local Demand available after sign in

Mixed-Use Building with Elevator

201 River St, Elk Rapids, MI 49629

$1,200,000

8,355 sqft

The upper floor contains two renovated apartments connected by an interior door, with elevator access between levels.

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Mixed-Use Downtown Building

1-144 River St, Elk Rapids, MI 49629

$499,000

2,953 sqft

Ground-floor commercial space with a garden studio apartment and lower-level storage, supported by B2 zoning.

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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 15 Potential Opportunities for your consideration. Besides 7 Active listings in Elk Rapids, 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.

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.

Elk Rapids Vacant Land

Capa-Bran Terrace lot: 8, Elk Rapids, MI 49629

$199,900

0.26 AC lot

Vacant lots in Elk Rapids, close to beaches and restaurants.

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Elk Rapids Vacant Land

Capa-Bran Terrace lot: 7, Elk Rapids, MI 49629

$199,900

0.23 AC lot

Vacant lots in Elk Rapids, close to beaches and restaurants.

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Buildable Lot in Elk Rapids

142 Charles Street, Elk Rapids, MI 49629

$110,000

0.50 AC lot

Vacant lot in Elk Rapids, close to amenities.

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Land in Gated Lochenheath Development

4829 Prestwick Court, Williamsburg, MI 49690

$49,900

0.41 AC lot

Vacant land in Williamsburg's prestigious Lochenheath Development.

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Elk Rapids, MI Residential Income Properties Market Trends and Statistics

Explore 7 residential income properties for sale in Elk Rapids, MI, showcased through 7 active listings on our real estate platform. These investment opportunities span a total of 23,483 square feet of properties for sale, with an estimated market value of $8,294,000.

Sale prices for residential income properties in Elk Rapids, MI start at $495,000, averaging $1,184,857, 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	$1.2M

Neighborhood

Average Price

49629

$1.2M