$2,200,000
$2,500,000
12.0%For more information regarding the value of a property, please contact us for a free consultation.
918 W Front Street Traverse City, MI 49684
8,308 SqFt
Key Details
Sold Price $2,200,000
Property Type Commercial
Sub Type Business Opportunity
Listing Status Sold
Purchase Type For Sale
Square Footage 8,308 sqft
Price per Sqft $264
Subdivision Na
MLS Listing ID 78080005332
Sold Date 05/15/23
Originating Board Aspire North REALTORS®
Year Built 2017
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 40x190
Property Description
Rare opportunity to purchase 2 modern multi-family buildings in the Slabtown neighborhood near downtown Traverse City. Built in 2017 each building contains 4 1-bedroom apartments, 1 studio and 1 penthouse apartment with a rooftop deck for a total of 12 units. One penthouse is 2 bedroom, 1.5 bath with a room that could be a third bedroom and that is plumbed for an additional bath. The other penthouse was built as the owner's personal residence and is 1 bedroom, 1.5 bath, with a second room that could be a bedroom and it is plumbed for an additional bath. Zoning allows for 3 of the 12 units to be short-term rentals providing upside income opportunity for the penthouse apartments and one of the 1-bedrooms. There are 10 parking spaces and street parking. The parking and sidewalks are heated for snow-melt.
Location
State MI
County Grand Traverse
Area Traverse City
Zoning Commercial,Multi-Family
Interior
Heating Forced Air, Central Air
Heat Source Electric, Natural Gas
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Frame,Vinyl
Schools
School District Traverse City
Others
Tax ID 285169002700
Ownership Private Owned
Acceptable Financing Cash, Other, Trade/Exchange
Listing Terms Cash, Other, Trade/Exchange
Financing Cash,Other,Trade/Exchange
Special Listing Condition Unknown/Data Share Listings
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Bought with Coldwell Banker Schmidt-522