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$550,000
Est. payment /mo
1,240 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 1,240 sqft
Price per Sqft $443
MLS Listing ID 78080070772
Style Duplex
Year Built 1937
Lot Size 0.340 Acres
Acres 0.34
Property Sub-Type MultiFamily
Property Description
Excellent Investment Opportunity at the Base of Old Mission Peninsula! This well-maintained duplex offers outstanding income potential with a proven rental history and current gross rental income of $4,790 per month. The property features three income-producing units, providing flexibility for investors or those seeking an owner-occupied opportunity. The duplex can also be converted back to a single-family home. Unit A (Main Level) offers 3 bedrooms, 1 bath, and an attached two-car garage. Unit B (Upper Level) features 2 bedrooms, 1 bath, in-unit laundry, and a private deck. A separate, non-conforming Cottage (Unit C) includes 1 bedroom and 1 bath, creating an additional income stream. Ideally located in one of Traverse City's most desirable in-town neighborhoods at the base of Old Mission Peninsula, the property is just two blocks from East Bay Beach, with convenient access to Northern Michigan College, Eastern Elementary, Central High School, downtown Traverse City, shopping, restaurants, beaches, and the TART Trail. Whether you're looking to expand your investment portfolio or convert the duplex back to a single-family home, this is an exceptional opportunity in a highly sought-after location.
Location
State MI
County Grand Traverse
Area Area28042Traversecity
Interior
Heating Baseboard, Hot Water, Natural Gas, Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Attached, Garage
View Y/N No
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Traverse City
Others
Acceptable Financing Cash, Trade1031Exchange
Listing Terms Cash, Trade1031Exchange
Special Listing Condition Standard
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Listed by Jennifer Gaston of REMAX Bayshore - Union St TC
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