1341 S Lakeshore DR, Reeder Twp, MI 49651
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Julie A Moraitis

Julie A Moraitis

+1(248) 568-6368
$ 420,000
Est. payment /mo
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Pending

1341 S Lakeshore DR Reeder Twp, MI 49651

4,880 SqFt

UPDATED:

Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

Square Footage 4,880 sqft

Price per Sqft $86

MLS Listing ID 78080055899

Year Built 1950

Lot Size 2.110 Acres

Acres 2.11

Property Description

Turnkey 8-Unit Multifamily with Expansion Opportunities 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 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 â€" 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 â€" perfect for investors ready to capitalize on one of Michigan’s most dynamic small-town markets. Income: Avg. Monthly Rent $750 for 8 units Expenses: Monthly Electric/Gas $550, Monthly Garbage $100, Monthly City Water/Sewer $130, Monthly Snowplow/Grass $100, Annual Insurance $4,200

Location

State MI

County Missaukee

Area Area57091Reedertwp

Interior

Heating Floor Furnace, Hot Water, Natural Gas, Zoned

Cooling Window Unit(s)

Fireplace No

Exterior

Parking Features ParkingLot, Other

Utilities Available NaturalGasConnected

View Y/N No

Roof Type Asphalt

Building

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Lake City

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Realcomp MLS
©2026 Realcomp II Ltd. Shareholders
Listed by Tamara McLeod Helsel of City2Shore Real Estate Northern Michigan

Nearby Locations

Julie A Moraitis

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(248) 568-6368

julie.moraitis@exprealty.com

eXp Plymouth, Plymouth, MI, 48170, USA

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1341 S Lakeshore DR

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