Unique opportunity in a great location just outside of Rhinelander. This well-cared-for fourplex offers 287 feet of frontage on the Rhinelander Chain of Lakes, combining a solid income property with full-rec waterfront. The property includes four identical 2-bedroom, 1-bath units, each updated in 2021. A metal roof and vinyl siding help keep exterior maintenance simple, and one unit is currently vacant and available to show. Each unit has its own deck or patio, dedicated garage space, and access to piers along the waterfront. The location is convenient to Rhinelander while offering tenants the appeal of living right on the water, with boating access to the Rhinelander Chain. At $699,000, this is an unusual opportunity to own a well-maintained four-unit property with substantial frontage, tenant amenities, and genuine waterfront value.