$3,125,000
1825 E Eighth Street Traverse City, MI 49686
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$3,125,000
Est. payment /mo
1.22 Acres Lot
Active
1825 E Eighth Street Traverse City, MI 49686
UPDATED:
11/11/2024 06:07 PM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 80051890
Year Built 2023
Lot Size 1.220 Acres
Acres 1.22
Lot Dimensions Condo
Property Description
9 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.
Location
State MI
County Grand Traverse
Area Traverse City (28021)
Zoning Other
Rooms
Basement Poured
Interior
Interior Features Elevator/Lift
Heating Forced Air
Cooling Central A/C
Appliance Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Exterior
Exterior Feature Other
Amenities Available Pets-Allowed
Waterfront No
Building
Water Public Water
Structure Type Other
Schools
School District Traverse City Area Public Schools
Others
Ownership Corporation
Energy Description Electric
Financing Cash,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by The Mitten Real Estate Group
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