9317 Main Street
WhitmoreLake, MI 48189
- – beds
- 4 baths
- 1,710 sqft
- ~1/2 acre lot
- $319 per sqft
- 1927 build
- – on site
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Welcome to 9317 Main Street, located in the heart of downtown Whitmore Lake. This fully renovated multifamily property presents an outstanding investment opportunity. The property consists of four one-bedroom, one-bathroom units, three of which are already operating as highly profitable Airbnb rentals. The fourth unit is leased long-term but is set to transition to a short-term rental after the lease expires in May, bringing the projected annual gross income to over $101,000. This investment offers a strong current cap rate of 9.6%, which will increase to 12.1% once all units are fully utilized as short-term rentals. The property’s prime location provides guests with easy deeded across the road to Whitmore Lake, an all-sports lake spanning 667 acres. The lake is a major draw for Airbnb guests, ensuring near 100% occupancy on summer weekends with an average nightly rental rate of $117. The property has undergone extensive renovations the past few years, including new roofs, windows, doors, electrical systems, and plumbing, along with updated heating and cooling systems. All four units have been fully remodeled with modern interiors, including new drywall, flooring, kitchens, and bathrooms, ensuring a turnkey investment for the new owner. The units are fully furnished, with the option to purchase the furnishings with the sale. With 12 parking spaces, tenants have ample convenience, and the property is within walking distance of local shops, restaurants, and a marina where boat rentals are available. Currently self-managed via Airbnb, the property allows flexibility for investors to continue with this model. Zoned for multifamily residential use with potential for commercial applications, this property offers both a stable income stream and future growth opportunities.
Last checked:
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Last updated Dec 23, 2024
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MLS# 20240070578 —
The Building
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Year Built:1927
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Year Remodeled:2020
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New Construction:false
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Construction Materials:Log
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Architectural Style:LogHome, Ranch
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Roof:Asphalt
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Levels:One
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Basement:false
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Foundation Details:Slab
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Security Features:ExteriorVideoSurveillance
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Patio And Porch Features:Porch
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Accessibility Features:AccessibleEntrance
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Above Grade Finished Area:1710.0
Interior
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Fireplace:false
Room Dimensions
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Living Area:1710.0
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Living Area Source:Appraiser
Location
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Directions:Take 23 to Whitmore Lake Exit. Take Main Street to East Shore property is on the right.
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Cross Street:Main and East Shore
The Property
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Parcel Number:B00205328023
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Property Type:ResidentialIncome
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Property Sub Type:MultiFamily
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Lot Size Acres:0.42
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Lot Size Area:0.42
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Lot Size Dimensions:182X101
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Lot Size Units:Acres
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Zoning Description:Commercial,Multi-Family,Multiple
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Fencing:Fenced
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Other Structures:Sheds
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Water Frontage Feet:20.0
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Waterfront Features:AcrosstheRoadWaterFrontage, AllSportsLake, LakeFront, SharedWaterFrontage, Waterfront
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Water Body Name:Whitmore Lake
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Road Frontage Feet:101
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Road Frontage Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (517) 643-5498
- Office phone:
- (517) 200-3245
Taxes
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Tax Legal Description:REWRITE PER QCD L3444 P642 NO 5-112A-1 COM AT W 1/4 COR SEC 5, TH S 2-0 E 616.26 FT IN W LN OF SEC, TH N 86-30 E 636.90 FT, TH N 80-30 E 7.76 FT, TH S 9-55 E 96.19 FT, TH N 80-30 E 213.76 FT, TH S 1-12 W 583.63 FT TO A POB, TH N 88-40 W 183 FT, TH N 1-12 E 100 FT, TH S 88-40 E 183 FT, TH S 1-12 W 100 FT TO POB. PT OF SW 1/4 SEC 5, T1S-R6E.
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Tax Assessed Value:76543
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Tax Annual Amount:4690.0
Baths
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Bathrooms Total:4
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Bathrooms Full:4
Heating & Cooling
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Heating:Electric, ForcedAir, NaturalGas
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Heating:true
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Cooling:CeilingFans, CentralAir, WallUnits
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Cooling:true
Utilities
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Sewer:SewerAtStreet
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Water Source:Well
Schools
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High School District:WhitmoreLake
The Community
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Senior Community:false
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Pool Features:None
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Waterfront:true
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Pets Allowed:Yes
Parking
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Attached Garage:false
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Parking Total:12.0
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Parking Features:ParkingLot
IDX provided courtesy of Realcomp II Ltd., via Estately and Realcomp II Ltd, © 2025 Realcomp II Ltd. Shareholders
Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
IDX provided courtesy of Realcomp II Ltd. via Estately Inc. and REALCOMP. ©2025 Realcomp II Ltd. Shareholders.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/5/24
Dec 5, 2024
|
Sold | REALCOMP | $546,000 | -9.0% |
|
11/27/24
Nov 27, 2024
|
Pending | REALCOMP | $599,900 | 494.0% (72.4% / YR) |
|
1/31/18
Jan 31, 2018
|
REALCOMP | $101,000 |
