Lake City, MI Residential income properties for sale

Lake City Multifamily Investment Opportunity

$420,000

4,880 SF

Lake City Multifamily Investment Opportunity

1341 S Lakeshore Drive, Lake City, MI 49651

Turnkey 8-unit multifamily property with expansion potential in Lake City, MI.

Turnkey, fully occupied 8‑unit multifamily property providing immediate cash flow.
Significant expansion potential on a 2.11‑acre lot, allowing for the construction of additional units.
High‑visibility location on M‑66/S. Lakeshore Drive in a desirable four‑season market.
Existing pool house (80 x 34) offers options for restoration or conversion into rental units.
Includes a 56 x 24 pole barn, providing opportunities for storage rental and added income.

Updated: Apr 15, 2025

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Turnkey Multifamily with Expansion Potential

$420,000

2,448 SF

Turnkey Multifamily with Expansion Potential

Lake City, MI 49651

Fully rented 8-unit apartment complex with development potential.

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.

Updated: Apr 20, 2025

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Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 2 Active listings in Lake City, 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.

$275,000

8,411 SF

Bowling Alley and Mixed-Use Building

Two connected buildings total 8,000+ SF with bowling alley space plus adaptable residential and commercial unit options.

304 W Main Street, Manton, MI 49663

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Fully Occupied Triplex with Rental Certificate

$210,000

2,314 SF

Fully Occupied Triplex with Rental Certificate

Recently updated, fully occupied triplex near downtown with six-car off-street parking and city rental certification.

415 E Harris Street, Cadillac, MI 49601

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$325,000

Historic Manton Mixed-Use Redevelopment Opportunity

Unique commercial property with redevelopment potential in downtown Manton.

304 W Main St, Manton, MI 49663

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$169,500

Two-Unit Property with Garage

Two-unit property featuring long-term tenants, basement, yard, and garage.

316 E Bremer St, Cadillac, MI 49601

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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.

$39,900

0.12 Acres

Buildable Lot in Lake City

Rare opportunity to build in a vibrant lakeside community.

210 N Canal Street, Lake City, MI 49651

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$64,900

0.23 Acres

Vacant Land in Downtown Lake City

Cleared double lot near shops, cafes, and Lake Missaukee.

222 N Main Street, Lake City, MI 49651

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$220,000

50.00 Acres

Recreational Waterfront Land Parcel

50-acre parcel with rolling hardwoods and Golden Creek, supported by ingress/egress and utility easement for a future build site.

00 Arnold Road, Manton, MI 49663

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$150,000

0.69 Acres

Cadillac Development Lot For Sale

Paved, level lot suitable for multi-family, daycare, or office development.

208 Robertson Street, Cadillac, MI 49601

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Lake City, MI Residential Income Properties Market Trends and Statistics

Explore 2 residential income 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 residential income properties in Lake City, MI start at $420,000, averaging $420,000, and reaching up to $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