$6,950,000

MLS 1920589
1825 E Eighth Street Traverse City, MI 49686  
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20 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. 9 of these units will come furnished with all appliances in place. Furnishings are already on order and are included in the list price. This will allow investors the opportunity to instantly begin renting while getting the other 11 units up and running. 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.
Price $6,950,000 Heat: Zoning:  Other
Area: Grand Traverse Water: Construction: Insulated Concrete Forms
Sale or Rent: For Sale Approx.Sq Ft.: 16760 Lot Size: Condo
Sewer: Municipal Units: 21 Acres: 1.22
Features: Other Handicap Access,Other
Water Features: None
For more information contact:
Sterling Properties
989.362.4585

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Listing provided by NGLR Association of Realtors, database last updated Thursday May 02, 2024
 
Direct Link:  https://cmiaridx.com/RETS/idx/sterling/multifamily/index.php?view=1920589