Active
1825 E Eighth Street
Traverse City MI, 49686
$7,150,000
$426.61 per sqft
Active
16,760 sqft
Multi-family
Built in 2023
21 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. These units will come furnished with all appliances in place. Furnishings are included in the list price. This will allow investors the opportunity to instantly begin renting. 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.
1921774
MLSⓇ ID
May 2, 2024
Listed
May 9, 2024
Updated
Map
1825 E Eighth Street
Traverse City MI, 49686
Interior Features
Interior Features
Other
Appliances
Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer
Fireplace
Yes
Fireplace Description
None
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
1.22 Acres
Exterior Features
Handicap Access, Other
Architectual Style
Other
Roof
Other
Sewer
Municipal
School Information
School District
0
Other Property Details
Area Name
Grand Traverse
Days on Market
3
Association Fee Frequency
Monthly
Garage
No
Parking
Assigned Parking Spaces
View
No
County
Grand Traverse
Municipality
Traverse City
Water Source
Municipal
Pool
No
Zoning
Other
Buyer Agency Compensation
2.5%
Listed by Sam Flamont with The Mitten Real Estate Group
Listing Contact: 231-633-8326
The IDX display contains information sourced from the Northern Great Lakes REALTORS® MLS as of 5/9/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
©2024 Northern Great Lakes REALTORS® MLS all rights reserved.
Data last updated on 5/9/2024 at 10:38 AM UTC