25
See all 25 photos
$440,000
Est. payment /mo
2 Beds
2 Baths
977 SqFt
New
509 Rose Street Traverse City, MI 49686
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Key Details
Property Type Single Family Home
Sub Type Single Family
Listing Status Active
Purchase Type For Sale
Square Footage 977 sqft
Price per Sqft $450
Subdivision Na
MLS Listing ID 80069457
Style 2 Story
Bedrooms 2
Full Baths 2
Abv Grd Liv Area 977
Year Built 1896
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 40x50
Property Sub-Type Single Family
Property Description
Rare opportunity to own a fully renovated, income-producing duplex in the heart of Traverse City, steps from downtown, fully furnished, and operating as a short-term rental since 2019. Both units are actively permitted and generating approximately $60,000 combined annually, with upside potential. Commercial zoning requires STR permits to remain active to preserve them both, making this a true turnkey investment with the infrastructure already in place. The lower unit offers 500 sq ft of thoughtfully designed living space with a 1 bedroom, 1 bath layout, fully equipped kitchen (stove/oven, dishwasher, microwave, refrigerator), king bed, and twin trundle beds sleeping up to 4 guests. The upper unit is 477 sq ft, also 1 bed/1 bath, with a kitchenette (no stove), queen bed, twin trundle beds, and the same modern mid-century aesthetic. Both units feature mini-split heating and cooling, flat-screen TVs, WiFi, and plush contemporary finishes throughout. The full renovation was completed in 2019. This property works two ways: run both units as short-term rentals for maximum cash flow, or house hack by living in one unit while offsetting your mortgage with the other. Peak season nightly rates regularly exceed $300 per unit, with strong shoulder-season performance as well. The permits are active, the units are furnished, and the guests are already coming. Full-service property manager in place for a true turn-key opportunity. Walking distance to downtown restaurants, breweries, and the waterfront. Near Potter's Bakery, Oakwood Proper, and Common Good Bakery.
Location
State MI
County Grand Traverse
Area Traverse City (28021)
Zoning Commercial,Multi-Family,Residential
Rooms
Basement Outside Entrance, Stone
Interior
Heating Wall Heat
Appliance Dishwasher, Microwave, Range/Oven, Refrigerator
Building
Story 2 Story
Water Public Water
Structure Type Vinyl Siding
Schools
School District Traverse City Area Public Schools
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by REMAX Bayshore - Union St TC
NEARBY SCHOOL & BUSINESS
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