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4074 Wyatt Road, Traverse City, MI 49684

  • $674,900

  • MLS#: 1818493

Listing Presented By

Cindy Anderson
Coldwell Banker Schmidt REALTORS - Traverse City 522
(231) 929-2300

Commercial - Traverse City, MI

Exceptional location! Eight affordable housing rentals and an easy property to own! You could not build them for this price! Current rents are below current market, there is room to grow revenue. Room to build four more units for a total of 12. Even with current rents, cap rate is at 10%. Adding 4 more units would increase the cap rate including build out to 12%. Zero vacancy rate, as fast as they leave, a new tenant comes in. These units have been exceptionally well maintained. In 2013 and 2015 major updates were made. Owners personally attend gardens. Nicer than your typical multi-family property. Tenants can walk to the new Y from this location. Very close to West Jr/Sr High Schools. Could also convert the entire complex into condos, excellent return on investment.

  • $674,900
  • Commercial
  • MLS#: 1818493
  • Square Footage: 6,680
  • Built In: 1977
  • Last Updated: December 3, 2016
  • Posted: June 17, 2016

4074 Wyatt Road, Traverse City, MI 49684 MLS#: 1818493

4074 Wyatt Road, Traverse City, MI 49684 is an , Commercial in Traverse City, Michigan for $674,900 with MLS#: 1818493 and offered by Cindy Anderson of Coldwell Banker Schmidt REALTORS - Traverse City 522. To learn more about 4074 Wyatt Road, Traverse City, MI 49684 contact Cindy Anderson for more information or to request a showing.


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