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118 E State Street

Fife Lake, Michigan 49633

$395,000 $1,665/Mo

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Overview

Bed

Bath

0.11

Acre(Lot)

Description

Built in 1886 overlooking Fife Lake, this historic triplex offers a rare opportunity for investors, renovators, and visionaries. The property screams opportunity to those who pay attention. While the building itself is ready for substantial updating, the view is something money alone can't recreate. The expansive deck offers year round views of Fife Lake, a popular Northern Michigan all-sports lake. It is the kind of setting that keeps people coming back year after year. Originally constructed as a mercantile building, the property later evolved into a residence before being converted into a three-unit income property. The conversions were functional rather than elegant, leaving plenty of opportunity for the next owner to improve both the units and the overall experience. The biggest asset here is flexibility. All three units have the potential to serve as seasonal rentals in a village known for boating, fishing, swimming, snowmobiling, and year-round recreation. With strong demand for Northern Michigan getaways, the property offers multiple paths to value creation. A practical approach may be renovating one unit at a time while keeping the remaining units operational. Whether your goal is short-term rentals, long-term income, or a thoughtful restoration that respects the building's history, this property provides a solid foundation for future improvements. At less than $133,000 per unit, the numbers are compelling. This is not a turnkey investment & it needs some love; however, it offers a remarkable view, easy access to the lake and income potential, and the opportunity to create significant value through vision, patience, and effort. * (rental rates are below market value) Interested in maximizing this property's potential? Ask me about the neighboring property. It would be perfect for additional storage, garage space, or a dedicated "toy barn" for boats, snowmobiles, ATVs, and other recreational equipmentÃ¢â‚¬"a valuable amenity for vacation rental guests.

Property Details

Property Type : Multifamily

Price : $395,000

AD Id : 84901662

MLS Id : 78080069671

Lot Size : 0.11 Acre

Year Built : 1890

County : Grand Traverse

Subdivision: Original City Of Corunna

Map

What's Nearby

Nearby Areas

Features

Room Information

Porches: Deck,Patio
Heating & Cooling

Cooling: Ceiling Fan(s),Other Heating: Baseboard,Hot Water,Other Heating Fuel: Natural Gas

Water Heater

Natural Gas

Building Information

Year Built: 1890 Building Stories: 2 Story Total Units: 3 Foundation/Basement: Slab,Michigan Basement Architecture: Victorian
Exterior Features

Construction: Other
Utility Features

Sewer: Sewer (Sewer-Sanitary)
Water

Well (Existing) Water Heat: Natural Gas

Lot Information

Lot Size: 0.11 Lot Dimensions: irregular Waterfront: All Sports Lake
Property Information

Subdivision: Village of Fife Lake Financing: Cash

Listing Price Information

Original List Price: $395,000
Listing Information

Possession: Negotiable Legal Description: LOT 16 BLK 4 VILL OF NO FIFE LAKE EXC BEG AT SW COR SD LOT 16 & RUNNING E ALG S LINE OF LOT 16 11' TH N 16' TH N'LY AT RIGHT ANGLES WITH SOUTHERLY LINE OF STATE RD TO INTERSECT WITH NORTHERLY LINE OF LOT 16 50' E OF NW CNR LOT 16 TH NW'LY ON NORTH LI NE O

Tax Information

Parcel Number: 4107003100
Possession

Negotiable
Legal Information

Legal Description: Section: LOT 16 BLK 4 VILL OF NO FIFE LAKE EXC BEG AT SW COR SD LOT 16 & RUNNING E ALG S LINE OF LOT 16 11' TH N 16' TH N'LY AT RIGHT ANGLES WITH SOUTHERLY LINE OF STATE RD TO INTERSECT WITH NORTHERLY LINE OF LOT 16 50' E OF NW CNR LOT 16 TH NW'LY ON NORTH LI NE O

School Information

School District: Forest Area
Utility Information

Water: Well (Existing) Sewer: Sewer (Sewer-Sanitary)

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ByOwner last updated this listing 06/18/2026 @ 22:25

MLS: 78080069671 LISTED BY: Carole L Higgins , Cygnus Real Estate 231-994-3225 SOURCE: Realcomp II Ltd