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Lake City, MI 49651,1341 S Lakeshore Drive
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Lake City, MI 49651,1341 S Lakeshore Drive
Lake City, MI 49651,1341 S Lakeshore Drive
Lake City, MI 49651,1341 S Lakeshore Drive
Lake City, MI 49651,1341 S Lakeshore Drive
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Tricia Boerma

Tricia Boerma

+1(989) 560-5779
Listed by Tamara McLeod Helsel • City2Shore Real Estate Northern Michigan
$ 450,000
Est. payment /mo
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1341 S Lakeshore Drive Lake City, MI 49651

4,880 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Hospitality

Listing Status Active

Purchase Type For Sale

Square Footage 4,880 sqft

Price per Sqft $92

Subdivision Mi

MLS Listing ID 1932558

Year Built 1950

Lot Size 2.110 Acres

Acres 2.11

Lot Dimensions Irregular

Property Sub-Type Hospitality

Property Description

Turnkey 8-Unit Multifamily with Expansion Opportunities – Lake City, MI Located on high-traffic M-66/S. Lakeshore Drive on the south end of Lake City, this fully rented 8-unit apartment complex offers a rare mix of stable income, development potential, and prime visibility in one of Northern Michigan's most active four-season markets. Current Configuration: • 6 double-bed units w/ kitchenettes & full baths • 2 king-bed units w/ kitchenettes & full baths • Approx. 2,448 sq. ft. of total living space • Fully occupied with an average rent of $750/month Property Highlights: • 2.11-acre lot with room to build additional units • 80 x 34 pool house featuring separate men's & women's bathrooms – can be restored as an indoor pool facility or converted into additional rentals (local builder's rendering available) • 56 x 24 pole barn for storage rental or added income Location Perks: Just across the road from Lake Missaukee's sandy shoreline and crystal-clear water, this location is a tenant favorite. Close to downtown dining, shopping, and seasonal events, and just a short trip to Traverse City, Lake Michigan, ski resorts, and miles of ORV trails. Watch July 4th fireworks from your boat during the “Greatest Fourth in the North.” Our Northern Michigan town has so many events to enjoy all four seasons: Polor Plunge and ice fishing in the winter, the Greatest Fourth in the North with fireworks, grand parade and more in the summer, Festival of the Pines in the Fall, just to name a few. This property offers a rare blend of immediate cash flow with future upside — perfect for investors ready to capitalize on one of Michigan's most dynamic small-town markets.

Location

State MI

County Missaukee

Zoning Commercial

Rooms

Basement Slab

Interior

Heating Hot Water, Floor, Window Air Conditioner, Zoned/Dual

Cooling Hot Water, Floor, Window Air Conditioner, Zoned/Dual

Exterior

Exterior Feature Wood

Roof Type Asphalt

Present Use Other

Road Frontage Public Maintained, Blacktop

Total Parking Spaces 8

Building

Sewer Municipal

Water Municipal Water

Others

Tax ID 051-675-003-00

Ownership Private Owner

Acceptable Financing Conventional Mortgage, Cash

Listing Terms Conventional Mortgage, Cash

agent

Tricia Boerma

Broker

+1(989) 560-5779

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1341 S Lakeshore Drive