1055 E Front StreetTraverse City, MI 49686

Description

Turnkey Four-Unit Investment Set on a rare double lot (.19 acres) just off East Front Street's downtown-to-bay corridor, this four-unit property offers a strong income stream in one of Traverse City's most walkable, in-demand locations. Mature trees give the property a shaded, established feel just minutes from downtown shops, restaurants, and the East Bay waterfront. Three of the four units are currently leased, generating $3,425/month in combined rent; Unit 2 is available and listed at $1,750/month. Units 2 and 4 have been most recently updated, and Unit 3 includes its own washer and dryer. Each unit offers a private entryway and an efficient layout that appeals to a steady renter pool. This walk-everywhere location has a track record of long-term tenants. On-site parking for tenants is located in the rear of the building, off the alley. This is a compelling opportunity for an investor to step into immediate cash flow while retaining long-term upside through lease renewals and light updates.

Property Information

Property type

Residential Income

Sub-type

Multi Family

Style

Victorian

Year built

1895

Living area

400 Sq Ft

Lot size

0.19 acres

Lot dimensions

50X165X49X162

Days on market

56

MLS^® Listing#

78080073186

Property Features

Interior

Walk-In Closet(s)

Appliances

Dryer · Microwave · Oven · Refrigerator · Range · Washer

Cooling

Exhaust Fan

Heating

Forced Air · Natural Gas

Flooring

Hardwood

Basement

Walk-Out Access · Daylight · Exterior Entry · Full · Other · Partially Finished

Construction

Wood Siding

Windows

Window Treatments

Sewer

Public Sewer

Water source

Public

Financial Details

Assessed value

$175,495

Parcel number

285148203700