Homes for sale - 526 E Eighth, Traverse City, MI 49686

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Chris Hubel

chris@chrishubel.com +1(248) 568-6030

$ 497,500

Est. payment -/mo

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Accepting Backup Offers

526 E Eighth Traverse City, MI 49686

896 SqFt

UPDATED:

02/14/2024 10:20 PM

Key Details

Property Type Multi-Family

Sub Type Victorian

Listing Status Accepting Backup Offers

Purchase Type For Sale

Square Footage 896 sqft

Price per Sqft $555

Subdivision Hannah Lay & Co'S 5Th Add

MLS Listing ID 78080013954

Style Victorian

Originating Board Aspire North REALTORS®

Year Built 1896

Lot Size 7,840 Sqft

Acres 0.18

Lot Dimensions 165x50

Property Description

Excellent income opportunity in downtown Traverse City. Located in the NoBo (North of Boardman River) neighborhood, this property is comprised of 3 units all with a solid rental history. Flexible D-2 zoning allows for C2 Commercial and additional uses including up to 20 unit lodging facility with 25% of the units as short-term rentals with township approval. Turn this back into a single family residence, live in one unit and rent the other two, or keep it as turn key investment. Many possibilities in an area that is exploding with tourism, growth, & gentrification. A 100% walkability score makes this a highly desirable location. West Grand Traverse Bay beaches, TART Recreation Trail, Boardman River & Lake, public library, shops & restaurants all in the neighborhood.

Location

State MI

County Grand Traverse

Area Traverse City

Zoning Commercial,Multi-Family,Residential

Interior

Heating Baseboard

Fireplace no

Heat Source Natural Gas

Exterior

Garage no

Building

Foundation Crawl, Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Architectural Style Victorian

Level or Stories 2 Story

Schools

School District Traverse City

Others

Pets Allowed Yes

Tax ID 5163401100

Ownership Private Owned

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

Listed by Mark D Hagan of Coldwell Banker Schmidt-402