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David Lamarand

dave@metrodetroitdave.com +1(313) 622-0239

$ 450,000

Est. payment -/mo

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1341 S Lakeshore Drive Reeder Twp, MI 49651

4,880 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Business Opportunity

Listing Status Active

Purchase Type For Sale

Square Footage 4,880 sqft

Price per Sqft $92

MLS Listing ID 78080055899

Originating Board Aspire North REALTORS®

Year Built 1950

Annual Tax Amount $4,936

Lot Size 2.110 Acres

Acres 2.11

Lot Dimensions Irregular

Property Sub-Type Business Opportunity

Property Description

Turnkey 8-Unit Multifamily with Expansion Opportunities Ã¢â‚¬" 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 MichiganÃ¢â‚¬â„¢s most active four-season markets. Current Configuration: Ã¢â‚¬ ¢ 6 double-bed units w/ kitchenettes & full baths Ã¢â‚¬ ¢ 2 king-bed units w/ kitchenettes & full baths Ã¢â‚¬ ¢ Approx. 2,448 sq. ft. of total living space Ã¢â‚¬ ¢ Fully occupied with an average rent of $750/month Property Highlights: Ã¢â‚¬ ¢ 2.11-acre lot with room to build additional units Ã¢â‚¬ ¢ 80 x 34 pool house featuring separate menÃ¢â‚¬â„¢s & womenÃ¢â‚¬â„¢s bathrooms Ã¢â‚¬" can be restored as an indoor pool facility or converted into additional rentals (local builder's rendering available) Ã¢â‚¬ ¢ 56 x 24 pole barn for storage rental or added income Location Perks: Just across the road from Lake MissaukeeÃ¢â‚¬â„¢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 Ã¢â‚¬Å“Greatest Fourth in the North.Ã¢â‚¬ 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 Ã¢â‚¬" perfect for investors ready to capitalize on one of MichiganÃ¢â‚¬â„¢s most dynamic small-town markets.

Location

State MI

County Missaukee

Area Reeder Twp

Zoning Commercial

Interior

Heating Hot Water, Zoned, Wall Furnace

Heat Source Natural Gas

Exterior

Roof Type Asphalt

Building

Foundation Slab

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Additional Building Other

Structure Type Frame,Wood

Schools

School District Lake City

Others

Tax ID 05167500300

Ownership Private Owned

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Unknown/Data Share Listings

Listed by Tamara McLeod Helsel of City2Shore Real Estate Northern Michigan

David Lamarand

Agent | License ID: 420941

+1(313) 622-0239

David Lamarand

1341 S Lakeshore Drive Reeder Twp, MI 49651

Key Details

Location

Interior

Exterior

Building

Schools

Others

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1341 S Lakeshore Drive