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Alma, MI Multifamily Homes & Duplexes for Sale

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  • /40

    $139,000

    • 3 Beds
    • 2 Baths
    • 1,475 Sq Ft

    130 Grafton Ave, Alma, MI 48801

    Updated Duplex - Live in One, Rent the Other! This well-maintained duplex offers both comfort and income potential. Over the past few years, it’s seen tasteful updates. The spacious main-floor unit features 2 bedrooms, 1 bathroom, first-floor laundry, direct basement access, and a covered back porch. The upper unit is an efficient 1 bedroom, 1 bathroom space that was recently remodeled. The

    Bob Fall CENTURY 21 LEE-MAC REALTY

    130 Grafton Ave, Alma, MI 48801
  • /35

    $309,900

    • 2,513 Sq Ft

    230 N State St, Alma, MI 48801

    This is the opportunity you have been waiting for! Come see the potential this home already has to offer, you may choose to use the first floor a a business area or make your own improvements to have another living area/unit. It was currently been used as a office space. The 2nd and 3rd floors will blow your mind with the fully renovated apartment living with its own entrance. you must

    Josh Devereaux RE/MAX Finest

    230 N State St, Alma, MI 48801
  • /45

    $169,000

    • 4 Beds
    • 5 Baths
    • 2,800 Sq Ft

    426 N State St, Alma, MI 48801

    Prime 5-Unit Multi-Family Property Near Downtown Alma!! Looking for a great investment opportunity? This fully rented 5-unit multi-family property is located right in the heart downtown Alma, offering convenience for tenants and steady income for owners. The building features durable vinyl siding and a low-maintenance metal roof, ensuring long-term durability. Each of the five apartments is a

    Micah Kemler 43 NORTH REALTY

    426 N State St, Alma, MI 48801
  • /39

    $499,000

    • 6 Beds
    • 4 Baths
    • 2,579 Sq Ft

    5705 N State Rd, Alma, MI 48801

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011.

    Cody Nevins AMERICA'S CHOICE REALTY LLC

    5705 N State Rd, Alma, MI 48801

Why Live in Alma

Alma, located in the center of Michigan’s lower peninsula, is a small city with a population of around 9,000 people. Known for its historical significance in truck manufacturing during World War I, Alma today is a quiet community surrounded by farmland. The city offers a strong sense of community, with residents frequently encountering familiar faces at local gyms, churches, and workplaces. Major employers include Alma College, MyMichigan Medical Center, and the retirement facility Masonic Homes, contributing to a stable local economy. Alma’s housing market features many homes from the late 1800s and early 1900s, showcasing Victorian and Craftsman architecture, along with ranch and split-level homes from the mid-20th century. The median home price is notably affordable at $160,000.

Alma College, a private liberal arts institution, enriches the community with its Highland Arts program and frequent music and theater performances. The Alma Riverwalk and the Fred Meijer Heartland Trail offer scenic routes for walking, biking, and cross-country skiing. Alma’s downtown district, listed on the National Register of Historic Places, features vintage storefronts, family-friendly venues, and diverse dining options, including breweries and family-owned restaurants. The city celebrates its Scottish heritage with the annual Highland Festival, a major event featuring music, dancing, and athletic competitions.

Alma is safer than the national average, with crime rates below state averages and significantly lower than those in larger cities like Grand Rapids. The city is 40 miles from Saginaw and MBS International Airport, 50 miles from Lansing, and 80 miles from Grand Rapids. Future plans for a passenger rail line could further enhance connectivity.

Home Trends in Alma, MI

Housing Trends

Median Sale Price
$166,700
Median Single Family Sale Price
$168,000
Average Price Per Sq Ft
$123
Number of Homes for Sale
22
Last 12 months Home Sales
194
Months of Supply
1.40
Median List Price
$172,000
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
3%
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