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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Kyle O'Grady

Kyle O'Grady

+1(231) 499-9999
Listed by  REMAX Bayshore - Union St TC
$420,000
Est. payment /mo
2 Beds
2 Baths
977 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 977 sqft

Price per Sqft $429

MLS Listing ID 1946364

Bedrooms 2

Year Built 1896

Lot Size 2,178 Sqft

Acres 0.05

Property Sub-Type Single Family Residence

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

Rooms

Basement Exterior Entry

Interior

Interior Features Breakfast Nook, Drywall, WiFi

Heating Wall Furnace, Natural Gas

Fireplaces Type None

Fireplace false

Appliance Refrigerator, Oven/Range, Dishwasher, Microwave

Exterior

Exterior Feature Sidewalk

Community Features None

Waterfront Description Public

Roof Type Asphalt

Garage false

Building

Story Two

Foundation Stone

Sewer Public Sewer

Water Public

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Kyle O'Grady

Kyle O'Grady

+1(231) 499-9999

Team Leader, REALTOR® | License ID: 6501407456

Team Leader, REALTOR® License ID: 6501407456

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