Active

115 Franklin Street

Traverse City MI, 49686

$1,275,000


$471.52 per sqft

Active

3 Beds

2.75 Baths

2,704 sqft

Residential

Built in 1930

Prepare yourself to fall in love with this stunning property boasting fantastic West Bay views and a downtown location that can't be beat! Even better, this property is zoned C-4, allowing for the most liberal of commercial zoning rules, making for one of the most unique investment opportunities in downtown Traverse City. The street level has most recently been utilized as a music school, though zoning regulations and the location allow for a multitude of use options, including restaurants, medical/legal offices, retail shops, AirBNB, and so much more. This historic 2-story Victorian home could also easily be converted back into a residential unit- the second floor is currently a 3 bed/2 bath AirBNB, projected to see immediate cash flow. The unfinished attic-space could also be finished to provide more rentable space for the existing AirBNB. Strolling downtown, you are greeted by a traditional covered porch spanning the full width of the home. Once inside, the lower level features original hardwood floors, a foyer entry, a large office, and several spacious rooms, many with solid oak pocket doors. There is also an expansive living room hosting a handsome corner fireplace. The upper/main level of the home offers numerous updates and features beautiful wood floors, and a spacious family room adjacent to the L-shaped kitchen and dining area. Beyond the main living areas is a designated laundry room, a full hallway bath, and 2 roomy guest bedrooms. Rounding out this level of the home is a spacious primary bedroom suite hosting a private bath with a standing shower. Just steps from the Bay and downtown TC, this property offers historic beauty and endless possibilities!

1918862

MLS ID

January 25, 2024

Listed

February 18, 2024

Updated

Map

115 Franklin Street
Traverse City MI, 49686

Interior Features

Bedrooms

3 Beds


Bathrooms

2.75 Baths


Interior Features

Bay Window(s), Foyer Entrance, Other, Island Kitchen, Formal Dining Room, Den/Study


Appliances

Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer, Other


Floor Description

Vinyl


Fireplace

Yes


Fireplace Description

Fireplace(s)


Cooling

No


Heating

Yes


Heating Description

Hot Water, Central Air, Natural Gas

Exterior/Building Features

Lot Size

0.11 Acres


Exterior Features

Bay View, Sidewalk, Other, Covered Porch


Lot Features

Corner Lot, Cleared, Level


Architectual Style

2 Story, Victorian


Roof

Asphalt


Sewer

Municipal

School Information

School District

0.0

Other Property Details

Area Name

Grand Traverse


Taxes

$10,308


Tax Frequency

Annually


Days on Market

24


Association Amenities

None


Garage

No


Parking

None


Parking Total

14


View

No


County

Grand Traverse


Water Source

Municipal


Pool

No


Waterfront

Yes


Zoning

Residential,Commercial,Other


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

2/16/2024

Price Change

$1,275,000

-6%

Listed by with REMAX Bayshore - W Bay Shore Dr TC
Listing Contact:  

The IDX display contains information sourced from the Northern Great Lakes REALTORS® MLS as of 2/18/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2024 Northern Great Lakes REALTORS® MLS all rights reserved.

Data last updated on 2/18/2024 at 8:36 AM UTC

 

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