$1,800,000
Traverse City, MI 49686
MLS# 21103275
Status: Sold
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Property Description
Special place in the city--on quiet Munson Place just off Munson Ave, blocks from both the east and west bay beaches and Northwestern University. Close to downtown. This well maintained 12 unit apartment complex is easy to fill...Units rent within days! All units have 2 sizeable bedrooms and 2 full bathrooms! Provides solid income with room to increase. Each unit has its own forced air furnace and central A/c all new 4 years ago. Most of the units have been updated within the last year. Great opportunity for a live in owner/manager and/or investment income. Change in owners plans make this opportunity available to you---set up time to see it soon!
Details
Maps
Documents
Location Property Info
County: Grand Traverse County
Street #: 441
Street Name: Munson
Suffix: Place
State: MI
Zip Code: 49686
Area: Traverse City - T
OfficeContract Info
Status: Sold
Current Price: $1,800,000
List Price: $1,850,000
Listing Date: 2021-08-30
General Property Info
Lot Measurement: Acres
Lot Square Footage: 34412
Lot Acres: 0.79
Lot Dimensions: 210 x 165
Year Built: 1986
New Construction: No
Financial Available: Yes
Financial Comments: Must sign NDA prior to receipt of financials
Cert of Compliance: Yes
Road Frontage: 210
Total # Units: 12
# of Diff Unit Floor Plans: 1
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 12000
Total Parking Spaces: 24
Waterfront: No
School District: Traverse City
Tax Info
Tax ID #: 285110104210
Taxable Value: 672100
SEV: 672100
For Tax Year: 2021
Seller's Annual Property Tax: 36809
Tax Year: 2021
Spec Assessment & Ty: Zero
Zoning: Commercial
Remarks Misc
Directions: Us-31/M-72 Munson Ave to Munson place---apartments are first drive to the right
Status Change Info
Under Contract Date: 2021-09-17
Sold Date: 2021-12-17
Sold Price: $1,800,000
Sold Price/SqFt: 150
Waterfront Options
Water Access Y/N: No
Access Feat
Accessibility Features: Yes
Income and Expenses
Annual Insurance: 5227
Annual Maintenance: 4800
Annual Utilities: 3240
Gross Op. Inc.: 172680
Net Operating Income: 119604
Operating Expense: 3000
Unit 1
Unit #: 1
Unit Description: 2bdrm, 2bath unit
Identical Units: 12
SqFt: 1000
Occupied: Yes
Monthly Rent: 1200
Bedrooms: 2
Bathrooms: 2
Full Baths: 2
Property Features
Accessibility Feat: 36 Inch Entrance Doo; 36' or + Hallway; Accessible Bath Sink; Accessible Kitchen Sink; Accessible M Flr Hal; Accessible Mn Flr Be; Accessible Mn Flr Fu; Grab Bar Mn Flr Bath; No Step Entrance
Exterior Material: Brick; Vinyl Siding
Roofing: Composition
Substructure: Slab
Lot Description: Level
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer
Extras: Tenant Storage
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Asphalt; Paved
Street Type: Paved; Private
Mineral Rights: Unknown
Terms Available: Cash; Conventional; Tax Def Exchange; Other
Possession: Close Of Escrow
Sale Conditions: None
Unit 1: A/C Unit; Central Air; Deck/Patio; Dishwasher; Garb Disp; Range Oven; Refrigerator; Sep. Heat System; W/D Hookup
Floor Plan Listing Office: McLauchlin Realty, Inc.
Listing Agent: Scott McLauchlin
Last Updated: December - 20 - 2021
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
