Address
1825 E Eighth Street, Traverse City, MI
Price
$ 6,950,000
Property Attributes
- MLS#1920589
- TypeMulti-Family
- CountyGRAND TRAVERSE
- CityTraverse City
- AreaGrand Traverse
- NeighborhoodTraverse City
- Zip49686
- Style
- Price$ 6,950,000
- Bedrooms21
- Full Bathrooms21
- Half Bathrooms0
- Sqr Footage16760
- Lot Size1.22 Acres
Data Source:
Northern Great Lakes REALTORS® MLS (NGLRMLS)
Property Description
20 Units that are short term rentable. Building has the one and only full rooftop common area with 4 hot tubs, turf area for outdoor games and partially covered as well. The building features a dog run and close proximity to both local and national chain food and coffee. Right around the corner is a grocery store for easy check ins. Guests on Airbnb have loved this building and the reviews on the already owned units speak highly of the rooftop and design. Listing price represents a fantastic group pricing discount, leaving investors with the upside of instant equity along with cash flow from the units. 9 of these units will come furnished with all appliances in place. Furnishings are already on order and are included in the list price. This will allow investors the opportunity to instantly begin renting while getting the other 11 units up and running. If this is a 3-5 year hold the instant equity will create an even greater return at disposition. If this is a long term hold, the bonus depreciation (consult your accountant) will help any investor offset tax liability. No matter how you shake it, this is an amazing opportunity. Major events that add more upside. Airport expanding by nearly 3 times its current size. Horse Show continues to expand, and Traverse City keeps making national news for its beauty and charm.
| Price History | |
|---|---|
| 3/28/2024 | Listed $6,950,000 |
General Features
| Roof | Other |
|---|---|
| Zoning | Other |
| Sewer | Municipal |
| Construction | Insulated Concrete Forms |
| School District | Traverse City Area Public Schools |
Interior Features
| Basement | Poured Concrete |
|---|---|
| Interior Features | Other |
Exterior Features
| Exterior Features | Handicap Access,Other |
|---|---|
| Water Features | None |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 49686
Price
Visits
Year Built
Northern Great Lakes REALTORS® MLS All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
