In the field of metal additive manufacturing (AM), one of the most used methods is selective laser melting (SLM)—building components layer by layer in a powder bed via laser. The process of SLM is defined by several parameters like laser power, laser scanning speed, hatch spacing, or layer thickness. The manufacturing of small components via AM is very difficult as it sets high demands on the powder to be used and on the SLM process in general. Hence, SLM with subsequent micromilling is a suitable method for the production of microstructured, additively manufactured components. One application for this kind of components is microstructured implants which are typically unique and therefore well suited for additive manufacturing. In order to enable the micromachining of additively manufactured materials, the influence of the special properties of the additive manufactured material on micromilling processes needs to be investigated. In this research, a detailed characterization of additive manufactured workpieces made of AISI 316L is shown. Further, the impact of the process parameters and the build-up direction defined during SLM on the workpiece properties is investigated. The resulting impact of the workpiece properties on micromilling is analyzed and rated on the basis of process forces, burr formation, surface roughness, and tool wear. Significant differences in the results of micromilling were found depending on the geometry of the melt paths generated during SLM.