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Favorite
  • 3 BDRM
  • 2.5 BTH
  • 1,728 SQ.FT
  • 0′ WF
450 Michigan Avenue Traverse City MI 49686
$525,000
Status: Sold Co-op Member

Description

This stunning stand-alone townhouse, nestled in the heart of the city, offers a rare blend of urban convenience, comfortable living space, and investment opportunities as it sits within commercial zoning. An added bonus, the property is being sold fully furnished with just a handful of exceptions. Built in 2016, this townhouse is three-bedrooms and 2.5-baths. Step inside to discover the ground level garage, a convenient feature providing two parking spaces and storage options. This level also boasts the potential for additional living space or a business setup, with plumbing already in place for your customization. Additional assigned parking spot behind the unit and parking spaces in driveway as well. Ascending to the second floor, you'll find yourself in the heart of the home. The well-appointed kitchen flows into the inviting living room. A convenient half bath and a covered porch complete this level. Venture up to the third floor, where three bedrooms await, including a master suite with its own full bath. A second full bath and a conveniently located laundry area add to the functionality of this space. This townhouse offers more than just a comfortable living space—it's a lucrative investment opportunity. With a strong rental history and the added benefit of a grandfathered short-term rental permit. In 2023 alone, this property boasted a gross rental income of $107, 000, making it an attractive option for investors or those seeking to offset their living costs. With its prime location, modern amenities, and versatile zoning options, this Traverse City townhouse presents a rare chance to own a piece of downtown. One of the sellers is a licensed real estate agent in the state of Michigan

Directions

Take Michigan Ave off of 8th. Condo is the stand alone unit on the left

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

Peninsula Properties Realty. 12935 S W Bay Shore Drive, Suite 110A Traverse City MI 49684

About Oak Park

Oak Park Neighborhood Info

The Oak Park Neighborhood of Traverse City Downtown is a more densely populated area with great proximity to downtown and Front Street without all of the traffic.  Oak Park also has easy access to Grand Traverse Bay, Old Mission Peninsula, and East Bay.  

With Garfield Road as a border to the East, heading north on Garfield up Old Mission Peninsula is very easy, or heading South on Garfield can take you all the way to US 131!  In addition, living in the Oak Park Neighborhood would allow very easy access to the Traverse City Civic Center, which has an indoor ice arena, indoor pool, numerous playgrounds, skate park, basketball courts, and more!  This 45 acre facility attracts over one million visitors per year!  

This neighborhood would also make the walk to school either at Traverse City Central High School or Northwestern Michigan College a quick one.  The other neighborhood borders include 8th Street on the South line, Railroad Avenue on the West, and Front Street on the Northern border.  

F&M Park is a small community park along Railroad Avenue, and this beautiful greenspace is a popular place.  A short walk can get you to Potter's Bakery on 8th Street to enjoy the unbelievable pastries, and they've been doing it since 1929!  

Stats for Oak Park

Year Units Sold Sales Volume Avg. Price High Sale Low Sale
2015 21 $6,356,775 $302,703 $800,000 $127,000
2016 19 $5,589,203 $294,168 $525,000 $137,200
2017 27 $9,077,600 $336,207 $775,000 $163,900
2018 19 $5,423,424 $285,443 $495,000 $141,000
2019 36 $11,904,600 $330,683 $1,195,000 $130,000

 

Real estate evaluation can be a very subjective measure. These properties were chosen based on a simple series of objective numbers and may not actually be very similar to the property being searched. Contact a professional REALTOR for assistance in evaluating any given property.

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Contact Mandy Brown today!

(231) 499-8425