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    Lake City, MI Residential Income Properties for Sale

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    Mc Bain, MI Cadillac, MI Manton, MI
    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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    Lake Missaukee Waterfront Mixed-Use Property
    $429,000
    3,331 SF

    Lake Missaukee Waterfront Mixed-Use Property

    218 S Main Street, Lake City, MI 49651

    Mixed-use property with immediate income potential and long-term lifestyle value.

    • Enjoy 60 feet of private shoreline on Lake Missaukee, an 1,880‑acre all‑sports lake.
    • Mixed‑use property offers immediate income potential from commercial space and a spacious three‑bedroom apartment.
    • Furnishings in the office space and apartment are included in the sale.
    • Located directly on M‑66/S. Main Street, steps from downtown Lake City's amenities and events.
    • The apartment features a four‑season porch with panoramic lake views, a primary suite, and a private side entrance.
    Updated: Apr 29, 2025
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    Based on your search, we've compiled 2 Potential Opportunities for your consideration. Besides 2 Active listings in Lake City, MI, we suggest exploring several alternatives:

    Lake City, MI Residential Income Properties Investment Opportunities Market Analysis

    Explore 2 residential income properties for sale in Lake City, MI on our real estate platform. These investment opportunities span a total of 8,211 square feet of properties for sale, with an estimated market value of $849,000.

    Sale prices for residential income properties in Lake City, MI start at $420,000, averaging $424,500, and reaching up to $429,000 — 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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    6-Month New Listing Trend

    Monthly new listing volume vs. 6-month average in Lake City.

    Top Commercial Asset Segments

    Apartment buildings 1
    Multifamily properties 1

    Demographics Overview

    Population 7,540
    Population Growth (5Y) -4.4%
    Median Household Income $61,524
    College Educated 26.1%

    High-Yield Neighborhoods for Strategic Investment

    Identify Lake City submarkets with the highest inventory density on the market and evaluate the median listing prices of real estate assets

    Neighborhood Average Price
    49651 $424.5K

    Taxes & Financing

    Tax Rate (average for all types) 3.24%
    Property Tax per SF $98.07 per sq ft
    Average Loan-to-Value 65.0%

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