Overview

About Slab Town/Incochee

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5 BDRM
4 BTH
4,000 SQ.FT
0′ WF

540 N Spruce Traverse City MI 49684

$789,000

Status: Sold In House

Description

Location and View! Unique property with loads of potential. There are three apartments and an office (previously a dental office). The main apartment offers 3 bedrooms and one full bath, living room, kitchen with eat in dining area and walk in laundry closet. The second apartment is efficiency style with one full bath and the third has one bedroom and one full bath, building offering a total of 5 bedrooms and 5 bathrooms. Excellent location with all of the conveniences of downtown Traverse City right out your door along with a beautiful view of West Bay. You must see this property in person so fully appreciate all that is has to offer. Above tax id is where the building sits. Parcel number 2851594005-01, vacant lot 8 on survey, is included.

MLS #	1912778
Sale Price	805000.00
Close Date	Sep. 12, 2023
Status	Sold In House
County	Grand Traverse
Township	Traverse City
City	Traverse City
Subdivision	Goodrich's Add
School District	Traverse City Area Public Schools
Type	Single Family Residence
Lot Size	0.11
Style	Apartment
Bath	4
Basement	Crawl Space
Garage/Parking	Gravel, Detached
Outbuildings	None
Lot Description	Corner Lot, Cleared, Metes and Bounds
Min. Rights	Unknown

Appliance	Refrigerator, Oven/Range, Dishwasher
Interior Features	In-Law Floorplan, Drywall, Cable TV, DSL, WiFi
Construction	Frame, Vinyl Siding
Roof	Membrane
Heat/Cool Type	Hot Water, Natural Gas
Water	Public
Waste	Public Sewer
Dimensions	41X116.87 50X80
Section #	5
Zoning	Residential
Financing	Conventional, Cash
Buyer's Agent Comp	3

Directions

East Grandview Parkway and Bay Street run parallel along the base of West Bay. Go to the corner of bay and Spruce.

Disclaimer

Copyright © 2024 Northern Great Lakes Realtors (NGLR) Listing provided by Northern Great Lakes Realtors (NGLR). The information in this listing was gathered from third-party sources including the seller. Home Waters LLC its subscribers disclaim any and all representations or warranties as to the accuracy of this information.

Property Listed By

Coldwell Banker Schmidt-402. 402 E Front Street Traverse City MI 49686

About Slab Town/Incochee

History

Lumber was king in Traverse City and throughout most of the northern Great Lakes from the late 1800's through the early 1900's. More money and more millionaires were created during Michigan's lumber boom than during the entire California gold rush. Grand Traverse Bay, at the time, had a number of very large sawmills that shaped the lumber into useable boards for the building of cities like Chicago and Detroit. The first cuts of these logs, or "slabs" were used by locals in the area close to the mills to build their homes at very little cost. Years later those slab homes are gone but the name remains.

Incochee is a newer development of exclusive homes, most of which feature spectacular views over Grand Traverse Bay and the city. We paired this development with slabtown for the purpose of our search because the homes here share the same fantastic access to Grand Traverse Bay nearby and a short stroll into Traverse City's downtown district.

Geography

The slabtown neighborhood extends from Grand Traverse Bay on the north to Division Street (US 31) on the East with Front Street making up the southern boundary. Incochee is a bit farther to the west and can be accessed off of M-72 at it's northern entrance or via a gated entry at it's east end off of Ramsdell Road.

Features

The proximity to the shoreline of Grand Traverse Bay and the fact that Slabtown and Incochee are just a bit out of the main traffic cycles of downtown make both very sought after neighborhoods. Slabtown is a neighborhood in transition with many older homes being renovated or removed in order to be replaced by more substantial, modern homes. Most newcomers are going to great lengths to ensure the historic feel of the neighborhood is embraced even with new construction. Ashton, Darrow and Veteran's Park all offer terrific space to relax and play as well as being home to Traverse City's only off-leash dog park. Famous institutions like Sledder's Family Tavern and The Dairy Lodge fall within Slabtown's boundaries. Hickory Hills Ski Area is another wonderful amenity along the west end of Slabtown that is actually owned and operated by The City of Traverse City.

Stats for Slab Town

Year	Units Sold	Sales Volume	Avg. Price	High Sale	Low Sale
2012	15	$3,946,500	$263,100	$433,900	$135,700
2013	15	$3,034,400	$202,293	$330,000	$90,000
2014	16	$4,173,280	$260,830	$469,000	$101,000
2015	19	$6,682,525	$351,711	$650,000	$169,125
2016	15	$4,618,400	$312,093	$590,000	$170,000
2017	21	$7,559,000	$359,952	$757,500	$187,000
2018	19	$6,790,400	$357,389	$600,000	$215,500
2019	24	$9,374,390	$390,616	$730,000	$230,000

Stats for Incochee

Year	Units Sold	Sales Volume	Avg. Price	High Sale	Low Sale
2012	5	$3,015,800	$603,160	$900,000	$409,800
2013	4	$1,817,600	$454,400	$605,000	$255,000
2014	4	$2,467,500	$616,875	$712,000	$429,000
2015	5	$2,671,000	$534,200	$629,000	$327,500
2016	5	$3,234,500	$646,900	$917,000	$465,000
2017	1	$917,000	$917,000	$917,000	$917,000
2018	0	0	0	0	0
2019	3	$2,023,999	$674,666	$809,999	$435,000

*Statistics according to Northern Great Lakes REALTORS MLS

Agent Photo

Contact Mandy Brown today!

(231) 499-8425mandy@homewaters.net