512 S Lake Shore Drive Lake Leelanau, MI $ 499,000
512 S Lake Shore Drive
$ 499,000
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512 S Lake Shore Drive

Lake Leelanau, MI, 49653
$ 499,000
Bedrooms-- Baths3.0 Sq 2,056

Monthly Estimate*

$ 3,446

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Multi-Family Home for sale in Lake Leelanau, MI

for $499,000 with 3 full baths. This 2,056 square foot home was built in 1900 on a lot size of 2.51.

Explore the potential of this 2.51-acre property ideally located in Lake Leelanau, within walking distance of local restaurants, wineries, distillery, grocery store, school, and church. Zoned R-3 High Density Residential in Leland Township, this property offers an exciting opportunity for investors looking to expand their portfolio or explore future development possibilities. The property currently features three rental units, including one studio-style unit, along with two trailers, each offering 2 bedrooms and 1 bathroom. With its convenient location, existing rental accommodations, and generous acreage, this property offers plenty of potential to generate income, enhance the existing rentals, or investigate future development opportunities. A rare opportunity to invest in the heart of desirable Lake Leelanau! The property has access off both S Lake Shore Drive and St. Joseph Street.

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Multi-Family Active

Price

$ 499,000

Full Bath

3

Property Type

Multi-Family

Taxes

$ 2,656

Style

Mobile - Single Wide,Ranch

Lot Size

2.51

Year Built

1900

Town/City

Lake Leelanau

County/Region

Leelanau

MLS | Web ID

1951814

Features
Interior
Interior Amenities None Cable TV High Speed Internet WiFi
Fireplace Features None
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N N
Fireplace Y/N N
Entry Level 1
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
Total Baths 3
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General
Sewer Private Sewer
Heating Forced Air Natural Gas
Cooling Ductless
Possession Negotiable
Roof Metal
Appliances Refrigerator Oven/Range
Architectural Style Mobile - Single Wide Ranch
Construction Materials Other Frame Aluminum Siding
Pets Allowed false
Year Built 1900
Stories Count 1
Township Leland
Levels One
Property Subtype Multi Family
Tax Year 2025
Gross Income 2500
Waterfront Features None
Community Features None
Accessibility None
Assoc Fee Paid Per Annually
County Leelanau
New Construction N
Property Type Residential Income
Attached Garage N
Energy Efficient Not Applicable
Subdivision Name N/A
Garage Y/N N
Green Water Conservation Not Applicable
Other Structures None
Rent Includes None
Status Active
Directions From Lake Leelanau south on S Lake Shore Dr the property is located south of the corner of S Lake Shore & Anthony St. You can also access the property St. Joseph Street.
High School Leland Public School
City Lake Leelanau
High School District Leland Public School District
Zoning Description Residential Multi-Family
Number Of Units Total 3
Lot Size Units Acres
Lot Size Square Feet 109335.6
Carport Y/N N
Elementary School Leland Public School
Tax Annual Amount 2656.02
Home Warranty Y/N N
Middle/Junior High School Leland Public School
Ok to Lease Month To Month 12 Months
Lease Renewal Y/N N
Lease Considered Y/N N
Virtual Tour https://revolutions-air.aryeo.com/videos/01a16645-b025-7113-901e-8cdb4ca9fb06
Living Area Units Square Feet
Standard Status Active
Middle/Junior School District Leland Public School District
Elementary School District Leland Public School District
Tax Assessed Value 83354
Total Actual Rent 2500
Ownership Type Private Owner
Leasehold Rent $/Mo 750
Lease Amount Frequency Annually
Legal Description See associated docs. Two tax ids: 45-009-026-017-20 and 45-009-026-017-27.
Year Built Effective 2022
Freehold VOW BBO IDX
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Exterior
Exterior Amenities None
Parking Features None
Water Source Private
Lot Size Area 2.51
Foundation Details Other
Number of Buildings 1
Spa N
Lot Size Acres 2.51
Road Surface Type Asphalt
Waterfront Y/N N
Road Responsibility Public Maintained Road
Horse Y/N N
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* Excluded Features
List By
Schaub Team Premier Realty

Broker

Cell: 231-883-5555

Contact

Affordability Calculator

$3,668
Per Month
94%
6%
0%
Monthly Principal & Interest
$3,446
Monthly Property Taxes
$221
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4612861 Elementary School
4612860 Middle School
Leland Public School High School High School
Pricing History
DatePricePrice ChangeDescription
10/21/2026$499,000 Listed Price

Map


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512 S Lake Shore Drive, Lake Leelanau, MI, 49653 is a Multi-Family Home for sale at $499,000 with 2,056 sqft and a lot size of 2.51. 512 S Lake Shore Drive has 3.0 baths and was built in 1900. The property's zip code is 49653 which is in Lake Leelanau, MI