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62
Photos
115 Franklin Street, Traverse City, MI 49686
$1,275,000 Asking Price
$---/mo Est. Payment Get Prequalified »
3
beds
3
baths
2,704
sqft
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!
Features & Amenities
Interior
- General:
- Entrance Foyer, Other, Kitchen Island, Formal Dining Room, Den/Study, Cable TV, High Speed Internet
- Appliances:
- Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer, Other
- Laundry:
- Upper Level
- Flooring:
- Other, Carpet, Vinyl
- A/C:
- true, Central Air
- Heating:
- true, Hot Water, Fireplace(s), Natural Gas
- Fireplace:
- Fireplace
- Disability Feature:
- None
Exterior
- General:
- Sidewalk, Other
- Style:
- Victorian
- Parking:
- Concrete, Alley Access, None
Construction
- Roofing:
- Asphalt
- Windows:
- Bay Window(s)
- General:
- Frame, Vinyl Siding, 2, Stone
Location
- Road/Access:
- Asphalt
- HOA Amenities:
- Annually
- Originating MLS:
- NGLRMLS API
- School District:
- Traverse City Area Public Schools
- County:
- Grand Traverse
Lot
- Zoning:
- Lot 8 Block 9 Hannah Lay & Co's 5th Add
- View:
- Bay View, Bay, View
Utilities
- Water:
- Public
- Sewer:
- Public Sewer
Financial
- Source:
- NGLRMLS API
- Ownership:
- Private Owner
This listing courtesy of:
REMAX Bayshore - W Bay Shore Dr TC, BJ Brick
Monthly Payment
Disabled 10% or more?
Used a VA Loan before?
Eligible for BAH?
Do you have dependents?
Your BAH amount is for the military housing area.
Loan term (number of years)
Property taxes are generally around 1.2% of the home’s value, but may vary based on location.
Annual homeowners insurance is typically 0.35% of the home’s value but can vary based on insurer.
$---
Est. Payment *
- Principal & Interest $--
- Taxes $--
- Insurance $--
- VA Funding Fee $--
$--- Est. Payment - $--- BAH = $--- Remaining
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About Traverse City, MI
Housing
- Number of Units
- 37,647
- Median Home Value
- $253,583
- Median Rent
- $889
24.77% of housing units are renter occupied.
11.10% are vacant.
Commute
- Car
-
80.96%
- Public Transportation
-
1.36%
- Walk to Work
-
2.46%
- Work from Home
-
13.26%
- Other
-
0.48%
The median travel time to work is 18 minutes.
People
- Population
- 75,364
- Median Age
- 43.50
- Median Household Size
- 2.53
Education
- High School
-
20.97%
- Associate’s Degree
-
9.01%
- Bachelor’s Degree
-
26.84%
- Graduate Degree
-
15.71%
Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.
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