509 Rose Street,Traverse City, MI 49686
Traverse City, MI 49686
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.
Details
| MLS # | 80069457 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1896 |
| Days On Site | 127 |
| Listing Provided By | REMAX Bayshore - Union St TC | Troy Daily |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 977 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | Commercial,Multi-Family,Resident |
| Acreage | 0.05 |
Interior
| Heating Yes / No | Yes |
|---|---|
| Heating | Natural Gas, Wall Furnace |
| Appliances | Dishwasher, Microwave, Range/Oven, Refrigerator |
Exterior
| Exterior Features | Sidewalks |
|---|---|
| Construction Materials | Vinyl Siding |
| Lot Features | Corner Lot |
Other
| List Aor | Aspire North REALTORS |
|---|
Area Information
| State | MI |
|---|---|
| County | Grand Traverse |
| City | Traverse City |
| Zip Code | 49686 |
| Area | Traverse City (28021) |
| Listing VS Median (in 49686) | |
Price: $369,000 low | high Med: $335,000 sqft: 977 low | high Med: 897 $ / sqft: $378 low | high Med: $373 On site: 127 low | high Med: 112.5 | |
Market Activity 49686
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Learn More About This Property
| State | MI |
|---|---|
| County | Grand Traverse |
| City | Traverse City |
| Zip Code | 49686 |
| Area | Traverse City (28021) |
| Listing VS Median (in 49686) | |
Price: $369,000 low | high Med: $335,000 sqft: 977 low | high Med: 897 $ / sqft: $378 low | high Med: $373 On site: 127 low | high Med: 112.5 | |
