Welcome to a unique Northern Michigan property along M-37 that blends residential comfort, immediate income, and vast development potential. Whether you seek a private estate, homestead, or multi-family investment, this estate delivers. The property features a spacious single-family home with four additional rental units, generating immediate income. The main house offers 4 bedrooms and 1.5 baths, with a basement apartment rented for $700 monthly. Two connected units rent for $750 and $800, while a separate unit brings in $1,100 per month. The back portion of the property, accessible via a separate drive, is ready for further development. Imagine adding two 4-plex apartments or condominiums, expanding your income stream. Alternatively, transform it into a wedding venue, with existing units serving as guest accommodations. This estate also includes a "you-pick" farm with blueberry, raspberry, and blackberry bushes, adding charm and sustainable living options. Located just a short drive from Flintfields Horse Park in Williamsburg, home to the Traverse City Horse Shows, this property is ideal for equestrian enthusiasts. Its proximity to these prestigious events makes it appealing for those in the equestrian community. Surrounded by state-owned land and near Fish Lake, the property ensures privacy and protection from future development. Whether envisioning a family compound, boutique farm, or base for horse show participants, the possibilities are endless. Additionally, theres potential to convert existing units into individual condos for a profitable investment. Dont miss this opportunity to own a versatile property that combines flexibility, income potential, and an unbeatable Northern Michigan location. See 360 Virtual Tour to see all the units. Pictures on this listing are of the owner's unit only -- also listed as a multi-family unit in the MLS where you can find some pictures of the other units.