Description
Seven-unit apartment property with great in-town location just off Woodmere and close to Boardman Lake Trail. Each unit is approximately 980 sf and includes a spacious first floor living area with polished concrete floor and high beamed ceiling, loft bedroom and washer/dryer. Tenants pay individually metered utilities. Units work well for live-work, and C-2 zoning allows for commercial rental of units. Zoning allows for one Traverse City Vacation Home Rental license for short term rental and seller has achieved “Super Host†status. Turnkey furnishings and keyless entry for two units included. Excellent condo conversion opportunity. Completely renovated in 2016 to include new roof, HVAC, and appliances. Offered at a 7.2% stabilized cap rate.
Location
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Listing Agent: Bill Somerville
Listing Office: Three West, LLC
