509 Rose Street, Traverse City, MI 49686
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509 Rose Street, Traverse City, MI 49686
509 Rose Street, Traverse City, MI 49686
509 Rose Street, Traverse City, MI 49686
509 Rose Street, Traverse City, MI 49686
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Traci Ann Mills

Traci Ann Mills

+1(734) 624-9072
$ 440,000
Est. payment /mo
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509 Rose Street Traverse City, MI 49686

2 Beds

2 Baths

977 SqFt

UPDATED:

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

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by REMAX Bayshore - Union St TC

Nearby Locations

Traci Ann Mills
Traci Ann Mills

Agent | License ID: 6501434563

+1(734) 624-9072 | clienttoclose@gmail.com

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509 Rose Street