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1825 E Eighth Street

Traverse City, MI 49686
  • $7,552,500
  • STATUS: Active
  • ON SITE: 16 Days
  • MLS #: 1923196
UPDATED: 127 min ago
$7,552,500
  • 0
    BEDS
  • 1.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 17,122
    SQFT
  • $441
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2023
County:

School Ratings & Info

Description

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. 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.

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-06-23T18:52:22.44.
www.housestraversecity.com/homes/151391844
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1825 E Eighth Street Traverse City, MI 49686

  • Price: $7,552,500
  • Status: Active
  • On Site: 16 Days
  • Updated: 127 min ago
  • MLS #: 1923196
0
Beds
0
Baths
0
½ Baths
1.22
Acres
17,122
SQFT
$441
$/SQFT
2023
Built
Neighborhood:
Eastside One
County:
Grand Traverse
Area:
Grand Traverse
School District:
Traverse City Area Public Schools
Property Description
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. 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.
Exterior Features

Additional Buildings None Construction Insulated Concrete Forms Exterior Features Handicap AccessOther Exterior Finish Other Lot Dimensions Condo Primary Garage Assigned Parking Spaces Road Public MaintainedBlacktop Roof Other Water Features None

Interior Features

Appliances Equipment RefrigeratorOven/RangeDishwasherMicrowaveWasherDryer Fireplace And Stoves None Foundation Poured Concrete Heating Cooling Type Forced AirCentral Air Interior Features Other

Property Features

Deeded Waterfront No Development Amenities Pets AllowedCommon Area Documents On File Other Heating Cooling Sources Electric Included In Lease None Lease Terms Other Listing Agreement Type Exclusive Right to Sell Mineral Rights Unknown Possession At ClosingNegotiable Property Type Condominium Section Number 1 Sewer Municipal Style Other Terms Cash1031 ExchangeOther Township Traverse City Tv Service Internet Avail Cable InternetCable TV Type Of Ownership Corporate Owned Univs Design Barrier Free No Steps EntryElevator Water Municipal Zoning Use Restrictions Other

Listing information © 2024 Northern Great Lakes REALTORS© MLS.
Listing provided courtesy of The Mitten Real Estate Group: 231-421-1970.



The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2024 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2024-06-23T18:52:22.44.
 
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Team Dakoske | RE/MAX Bayshore
500 S. Union
Traverse City MI, 49684