115 Franklin Street, Traverse City, MI 49686

$1,275,000
3
BD
4
BA
2,704
SqFt
List Price
$1,275,000
Price Change
▼ $75,000 1708051153
Days on Market
36
Status
ACTIVE
MLS#
1918862
Bedrooms
3
Bathrooms
4
Full Baths
1
Half Baths
2
Three Quarter Baths
1
Living Area
2,704
Lot Size (Acres)
0.11
Style
2 Story, Victorian
Year Built
1930

Property Description

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!

Additional Information

Building Name
Hannah Lay & Co's 5th Add
Taxes
$10,308
Interior Features
Bay Window(s), Foyer Entrance, Other, Island Kitchen, Formal Dining Room, Den/Study
Amenities
None
Exterior Features
Bay View, Sidewalk, Other, Covered Porch
Roof
Asphalt
Water
Municipal
Sewer
Municipal
School District
Traverse City Area Public Schools

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of REMAX Bayshore - W Bay Shore Dr TC.