121 S Canal Street, Lake City, MI 49651

Property Description

High-Upside Investment Opportunity in Prime Lake City Location! Attention investors and flippers—this 3-bedroom, 1-bath property offers a rare chance to capitalize on a low purchase price with strong ARV potential in a highly desirable, walkable location. Situated on a 50x70 lot, the property features a fenced-in backyard and a small attached garage currently used for storage, with potential to be converted back to garage space. The home also includes a basement primarily suited for mechanicals and storage. This is a full rehab project requiring significant TLC inside and out, making it ideal for experienced investors looking to unlock value. The home offers a functional layout with all three bedrooms located upstairs, each featuring closet space, while the main floor includes the living room, bathroom, eat-in kitchen, and sun porch—providing a solid foundation. One nice feature is the covered, enclosed porch with French doors leading into the living room—a unique element that can be transformed into a bright, inviting entry or additional living space, enhancing both charm and usable square footage. Inside, the property retains original turn-of-the-century character ready to be restored. This property has also demonstrated strong rental income potential for many years under the original owner, adding confidence for investors considering a buy-and-hold strategy. Located within walking distance to schools, businesses, and dining, the location supports both resale value and continued rental demand. Investor highlights: Low entry price = strong margin opportunity High ARV potential after renovation Proven rental history Full rehab = maximize forced appreciation Walkable to schools, post office, shopping & dining Convertible garage adds flexibility and value Sun front porch add usable space Historic charm enhances finished product appeal Bring your contractor and your vision—this is a prime value-add opportunity with serious upside.