Browse All Omena MI Multi-Family Properties for Sale

2 Baths ⋅ 1948200 MLS ⋅ N/A BLDG.

Investment Opportunity in the Heart of Downtown Traverse City. This 1,428-square-foot home sits on 0.09 acres along the highly desirable Eighth Street corridor, within walking distance to downtown shopping, restaurants, beaches, parks and trails. Currently configured as two long-term rental units, each apartment offers it's own kitchen and living room plus 2 bedrooms and 1 bathroom. The property is fully leased, and the current tenants would like to remain in place, providing immediate rental income for an investor seeking a stable, as-is opportunity. The property has been priced to reflect its condition and offers tremendous upside for buyers looking to renovate or redevelop. D-2 Zoning offers long-term rentals, short-term rentals or commercial. Unlock the potential with its flexible zoning and prime location, this property offers numerous possibilities. Please review list in associated documents. Whether you're an investor, developer, or someone looking for a downtown renovation project, this property offers the rare combination of current income, future potential and an outstanding location.

633 E Eighth, Traverse City

$449,900

1948191 MLS ⋅ Windcrest Hills BLDG.

Nicely updated, well maintained duplex in East Bay township. Great location, near trails, shopping, schools. Nice, large backyard opens onto beautiful woods. One side isrecently vacant, the other is under lease until the end of 2026. For the convenience of the tenants, showings are limited. Great cash flow.

2688 Windcrest Lane, Traverse City

$649,900

3 Baths ⋅ 1948158 MLS ⋅ N/A BLDG.

This sunny short term triplex is located in downtown Beulah--just two blocks from the beautiful village beach on iconic Crystal Lake and next door to the Five Shores Brewery. The triplex is only 15 minutes to Crystal Mountain Ski Resort. Close to Sleeping Bear Dunes and Frankfort, plus easy access to Traverse City, Empire, and beyond. Apartment A, the largest at 1054 sq ft., has 3 bedrooms, 1 full bath along with a living room and full kitchen with an attached dining room. Apartment B, the second largest at 703 sq ft, has 2 bedrooms, 1 full bath along with a living room and full kitchen. Apartment A and B are currently operated as short term rentals with Airbnb; they are to sold completely furnished. There is a large deck which Apartment A and B share; each with their own entrances and their own table and chairs; the deck sits adjacent to the Five Shores Brewing outdoor area which makes for an entertaining and lively atmosphere. Apartment C is the third of three apartments and is located in the lower level. At 650 sq. ft., it has 1 bedroom, a kitchen, full bathroom, a living room and dining area. Apartment C is used as a long term rental. Converting this third apartment to an STR would make a nice value-add for a new owner, or an owner could live in one unit and let the other two pay the bills. All 3 apartments have access to a shared, free-to-use, laundry space which has two washers and two dryers.

143 S Benzie Boulevard, Beulah

$550,000

3 Baths ⋅ 1947705 MLS

Excellent Investment Opportunity at the Base of Old Mission Peninsula! This well-maintained duplex offers outstanding income potential with a proven rental history and current gross rental income of $4,790 per month. The property features three income-producing units, providing flexibility for investors or those seeking an owner-occupied opportunity. The duplex can also be converted back to a single-family home. Unit A (Main Level) offers 3 bedrooms, 1 bath, and an attached two-car garage. Unit B (Upper Level) features 2 bedrooms, 1 bath, in-unit laundry, and a private deck. A separate, non-conforming Cottage (Unit C) includes 1 bedroom and 1 bath, creating an additional income stream. Ideally located in one of Traverse City's most desirable in-town neighborhoods at the base of Old Mission Peninsula, the property is just two blocks from East Bay Beach, with convenient access to Northern Michigan College, Eastern Elementary, Central High School, downtown Traverse City, shopping, restaurants, beaches, and the TART Trail. Whether you're looking to expand your investment portfolio or convert the duplex back to a single-family home, this is an exceptional opportunity in a highly sought-after location.

316 Huron Street, Traverse City

$639,900

2 Baths ⋅ 1946566 MLS ⋅ Platte Lakes Resort BLDG.

Surrounded by mature hardwoods and ideally situated between Platte Lake and Little Platte Lake, this unique offering includes two fully furnished cabins on 1.21 acres, just minutes from Lake Michigan, Crystal Lake, and Sleeping Bear Dunes National Lakeshore. With a proven short-term rental history and prime location, these properties present an exceptional Northern Michigan investment, getaway, or family compound opportunity. Known as Kodiak and Brown Bear, the cabins combine rustic charm, privacy, and modern comfort. Together they offer 5 bedrooms and 2 bathrooms, providing flexibility for continued rental use, multi-family ownership, or personal enjoyment. Kodiak is a classic log home featuring 3 bedrooms and 1 bathroom. Since 2021, extensive improvements have included exterior sandblasting, chinking and staining, plumbing and electrical updates, refinished cement under the carport, and updated furnishings. Historically rented year-round, Kodiak has demonstrated strong income potential and offers the possibility of adding a future half bath. Brown Bear features 2 bedrooms and 1 bathroom with a cozy cottage feel surrounded by towering trees. Updates since 2021 include underground power service and updated furnishings. Its peaceful wooded setting creates an inviting retreat for owners and guests alike. Outdoor recreation is abundant in every season, with nearby access to the Platte River, Little Platte Lake, boating, fishing, kayaking, hiking, snowmobiling, golfing, and miles of trails. Enjoy close proximity to Sleeping Bear Dunes, Lake Michigan beaches, local orchards and wineries, the Leelanau Peninsula, and Crystal Mountain Resort. Traverse City and Frankfort are both within an easy drive for dining, shopping, entertainment, and seasonal events. Offered fully furnished and ready for immediate use, this rare two-cabin property delivers privacy, flexibility, established rental income, and the Northern Michigan lifestyle.

8646 Deadstream Road, Honor

$549,000

2 Baths ⋅ 1946291 MLS ⋅ Hannah Lay & Co's 4th Addition BLDG.

The location of this duplex couldn't be better - walk to beaches and everything downtown Traverse City has to offer! This side-by-side duplex offers great curb appeal and was built as a duplex - not a converted single-family home. Each unit features a large living room, a foyer entrance at the front and a secondary entrance at the rear, 2 bedrooms, a full bath, built-in bookcases, and a full basement. Unit B also has charming arched doorways and a dining room. Parking is available off the alley and there is a garage used for storage.

505 Second Street, Traverse City

$449,900

2 Baths ⋅ 1946116 MLS ⋅ N/A BLDG.

Turn-key duplex ready to be house hacked with a tenant already in place on one side and the vacant side freshly updated with new paint, light fixtures, and whole kitchen remodel. Just 12 minutes to Traverse City and 5 minutes to Spider and Arbutus lake this duplex location is hard to beat. Both units have separate garages in the center of the duplex meaning no shared walls or hearing your neighbors. New windows installed in the rented unit in 2019 and mechanicals updated in both units in 2026. Iron sulfur buster water systems installed in both units by Culligan in 2019 and are owned. Property is on a private well and septic that services both units. Duplex sits on over an acre lot meaning ample yard space for tenants enjoyment. Extremely versatile property, use as an income producing investment, live in one side and rent the other to offset your living costs, or could work well for multi-generational living.

3434 & 3436 Mahoney Drive, Traverse City

$449,900

2 Baths ⋅ 1945614 MLS ⋅ Belvedere BLDG.

Duplex Living in Traverse City! Flexible affordable housing! (2) spacious two bedroom 1,152 apartments with attached garages and almost an acre. Recently updated including Paint, flooring, bathroom, and appliances. Live in one, rent the other. Both units fully furnished and ready to move into. Use as up North getaway, Weekly, nightly, or monthly rental. Invest in Northern Michigan. Meticulously maintained and passes the white glove test! Immediate occupancy and available for a quick close. Interior and exterior drone tour by clicking virtual tour link. Seller cashed flow by short term weekly and monthly rentals, traveling nurses...Blair Twp allows short term rentals. Furnished can bring a premium.

284 Astro Drive Unit 286, Traverse City

$3,500,000

11 Baths ⋅ 1944464 MLS ⋅ Abba's House BLDG.

Just 8 minutes from downtown Traverse City, this exceptional 40-acre property offers endless potential. With 8 homes totaling over 16,000 square feet and 4 large barns, it’s ideal for a variety of ventures—think destination wedding venue, retreat center, boutique resort, private school, or family compound. Capacity to hold over 80 guests! The blend of open fields, wooded privacy, and close proximity to town creates a one-of-a-kind setting for residential, commercial, or creative redevelopment opportunities.

55 S Hope Ridge, Traverse City

$849,000

1944133 MLS ⋅ 1627 Rasho Rd BLDG.

Updated 4-unit property on the east side of Traverse City near Timber Ridge. 1627 Rasho Rd features three 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with shared front/rear entry and common laundry. Major 2023/2024 improvements include new flooring, countertops, appliances, lighting, paint, HVAC units, 3 new water heaters, exterior paint, and a new roof in February 2024. Detached 5-stall garage, adjacent deck area, and large lawn bordering woods. Gross monthly income of $6,814 includes rent, pet rent, and trash fees.

1627 Rasho Road, Traverse City

$684,900

4 Baths ⋅ 1943936 MLS ⋅ Manhattan Estates BLDG.

Discover a rare opportunity with this spacious and beautifully updated duplex just 20 minutes from Traverse City and moments from Long Lake beaches and the public boat ramp. Each unit has been completely renovated and offers 3 bedrooms and 2 full baths, featuring vaulted ceilings, expansive windows that flood the interiors with natural light, and large open-concept kitchens with updated appliances, new flooring, and fresh paint throughout. Thoughtfully designed for comfort and functionality, both units include separate living rooms and family rooms, finished lower levels, in-unit laundry, and private decks—ideal for relaxing or entertaining. Major updates provide peace of mind, including a new tear-off roof in 2018, two high-efficiency gas forced air furnaces and central A/C units installed in 2022, newer windows and doors, updated vinyl siding, and a newer well pump. Each unit is serviced by its own septic system, regularly maintained every two years. Situated on a quiet, low-traffic street and originally built in 1993, this property offers versatility and value—perfect as an income-producing investment, an owner-occupied opportunity to offset living costs, or an ideal setup for multigenerational living.

4398 & 4400 W Manhattan, Traverse City

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