20
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$395,000
Est. payment /mo
4,791 Sqft Lot
Active
118 E State ST Fife Lake Twp, MI 49633
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Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Subdivision Village Of Fife Lake
MLS Listing ID 78080069671
Style Victorian
Year Built 1890
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type MultiFamily
Property Description
Built in 1886 overlooking Fife Lake, this historic triplex offers lake views, income potential, and the opportunity to create something special. The expansive deck provides year-round views of Fife Lake, a popular Northern Michigan all-sports lake known for boating, fishing, and year-round recreation. It is the kind of setting that keeps visitors coming back season after season and tenants happy with their living arrangements Currently configured as three rental units, the property offers flexibility for investors, seasonal rental operators, or buyers looking to restore a piece of local history. Originally constructed as a mercantile building before evolving into a residence and later a triplex, the property has been adapted to changing needs for nearly 140 years and is ready for the next chapter. With current rental rates below market and all three units offering seasonal rental potential, there are multiple paths to increasing value. Whether your goal is short-term rentals, long-term income, or a thoughtful restoration, the opportunity is clear. At less than $133,000 per unit, opportunities like this are becoming increasingly difficult to find. This is not a turnkey property, but for buyers willing to roll up their sleeves, it offers a remarkable view, easy access to the lake, and the chance to create significant value through vision, patience, and effort. The neighboring property may also be available. Ask for details.
Location
State MI
County Grand Traverse
Area Area28131Fifelaketwp
Interior
Heating Baseboard, Hot Water, Natural Gas, Other Heating Source
Cooling Ceiling Fans, Exhaust Fan, Other
Fireplace No
Exterior
Waterfront Description AllSportsLake
View Y/N No
Building
Lot Description WaterView
Foundation MichiganBasement, Slab
Sewer Public Sewer
Water Well
New Construction No
Schools
School District Forest Area
Others
Acceptable Financing Cash, Trade1031Exchange
Listing Terms Cash, Trade1031Exchange
Special Listing Condition Standard
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Listed by Carole L Higgins of Cygnus Real Estate
NEARBY SCHOOL & BUSINESS
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