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. Seller has a Traverse City Vacation Home Rental licenses for short term rental. This unit has been outfitted and decorated to achieve "Super Host status with turnkey furnishings and keyless entry included. Excellent condo conversion opportunity. Completely renovated in 2016 to include new roof, HVAC, and appliances. Offered at a 7.2% stabilized cap rate.
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0BEDS
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0.19ACRES
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0BATHS
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01/2 BATHS
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6,860SQFT
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$203$/SQFT
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. Seller has a Traverse City Vacation Home Rental licenses for short term rental. This unit has been outfitted and decorated to achieve "Super Host status with turnkey furnishings and keyless entry included. Excellent condo conversion opportunity. Completely renovated in 2016 to include new roof, HVAC, and appliances. Offered at a 7.2% stabilized cap rate.
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