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115 Franklin

Traverse City, MI 49686
  • $1,275,000
  • STATUS: Accepting Backup Offers
  • ON SITE: 173 Days
  • MLS #: 78080014232
Under Contract
UPDATED: 70 min ago
$1,275,000
  • 3
    BEDS
  • 0.11
    ACRES
  • 2
    BATHS
  • 2
    1/2 BATHS
  • 2,704
    SQFT
  • $472
    $/SQFT
Type:
Single-Family Home
Built:
1930
County:
Lot Size Dimensions:
Irregular

School Ratings & Info

School District:

Description

Prepare yourself to fall in love with this stunning property boasting fantastic West Bay views and a downtown location that cant 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!

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IDX provided courtesy of Realcomp II Ltd. via Real5 and Realcomp II Ltd.. © 2024 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Real5 are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2024-07-17T17:12:50.323.
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115 Franklin Traverse City, MI 49686

  • Price: $1,275,000
  • Status: Accepting Backup Offers
  • On Site: 173 Days
  • Updated: 70 min ago
  • MLS #: 78080014232
3
Beds
2
Baths
2
½ Baths
0.11
Acres
2,704
SQFT
$472
$/SQFT
1930
Built
Neighborhood:
Hannah Lay & Co's 5Th Add
County:
Grand Traverse
Area:
Traverse City
School District:
TRAVERSE CITY
Property Description
Prepare yourself to fall in love with this stunning property boasting fantastic West Bay views and a downtown location that cant 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!
Exterior Features

Architecture Level 2 Story Architecture Style Victorian Construction Materials Vinyl Foundation Materials Stone Garage YN No Lot Features Corner Lot Lot Size Dimensions Irregular Porch Type Porch Waterfront YN No

Interior Features

Basement YN No Baths Total 2.20 Cooling Central Air Fireplace YN Yes Heating Hot Water Heating Fuel Natural Gas Interior Features Other Kitchen Appliances DishwasherDryerMicrowaveOvenRange/StoveRefrigeratorWasher Room Count 14 Rooms Bedroom (Upper Level) Bedroom (Upper Level) Bedroom (Upper Level) Bedroom (Upper Level) Dining Room (Main Level) Family Room (Main Level) Kitchen (Main Level) Laundry Area/Room (Upper Level) Library (Study) Living Room (Main Level) Bath - Full Bath - Full Bath - Lav Bath - Lav Sq Ft Combined 2704 Sq Ft Lower Floor 0 Sq Ft Total Basement 1000

Property Features

Down Payment Resource YN No Homestead YN Yes Land Contract YN No Listing Financing CashConventional Ownership Status Private Owned Possession Negotiable Postal City Traverse City Settlement City Sewer Shared Septic (Common) Short Sale No Tax Amount Summer 9195.7600 Tax Amount Winter 1112.3200 Title Standard (Private) Total Tax 10308.0800 Transaction Type Sale Unparsed Address 115 Franklin Water Source Public (Municipal)

Realcomp IDX logo IDX provided courtesy of Realcomp II Ltd., via REMAX Bayshore - W Bay Shore Dr TC: (231) 941-4500 and Aspire North REALTORS, ©2024 Realcomp II Ltd. Shareholders.


IDX provided courtesy of Realcomp II Ltd. via Real5 and Realcomp II Ltd.. © 2024 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Real5 are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2024-07-17T17:12:50.323.
 
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