4074 Wyatt Road, Traverse City 49684

$674,900

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MLS#: 1818139
• For Sale
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Exceptional location! 8 Affordable housing rentals and a 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 4 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 the gardens. Nicer than your typical multi family property. Tenants can walk to the new Y from this location. Very close to West Jr and Sr. High. Could also convert the entire complex to condos, excellent return on investment.

Property Information    

Status
Active 
Address
4074 Wyatt Road 
City
Traverse City 
Zip
49684 
Year Built
1977 
Style
2 Story, Apartment 
Possession
Negotiable 
Waterfront Desc
None 
Listing Date
06/09/2016 
County
Grand Traverse 

School Information

School District
Traverse City 

Taxes

Taxes
$5,200 

Rooms and Land

Number of Units

Features

Style
2 Story, Apartment 
Exterior Features
Deck, Landscaped 
Basement
Partial 
Appliances
Blinds, Dishwasher, Dryer, Natural Gas Water Heater, Oven/Range, Refrigerator, Washer, Water Softener (Owned) 
Cooling
Hot Water, Natural Gas 
Heating
Hot Water, Natural Gas 

Listing Video for 4074 Wyatt Road, Traverse City MI 49684

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Listing Broker

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Listing Courtesy of Coldwell Banker Schmidt-522
Office Address 522 E Front St