441 Munson Place, Traverse City, MI 49686

$1,800,000

Property Type: Multi Family Lot Size (sq. ft.): 34,412 Status: Sold

Current Price: $1,800,000 List Date: 8/31/2021 Last Modified: 12/20/2021

Overview

Description

Special place in the city--on quiet Munson Place just off Munson Ave, blocks from both the east and west bay beaches and Northwestern University. Close to downtown. This well maintained 12 unit apartment complex is easy to fill...Units rent within days! All units have 2 sizeable bedrooms and 2 full bathrooms! Provides solid income with room to increase. Each unit has its own forced air furnace and central A/c all new 4 years ago. Most of the units have been updated within the last year. Great opportunity for a live in owner/manager and/or investment income. Change in owners plans make this opportunity available to you---set up time to see it soon!

Listing Details MLS# 21103275

Location Property Info

County: Grand Traverse County
Street #: 441
Street Name: Munson
Suffix: Place
State: MI
Zip Code: 49686

General Property Info

Lot Measurement: Acres
Lot Square Footage: 34412
Lot Acres: 0.79
Lot Dimensions: 210 x 165
Year Built: 1986
New Construction: No
Financial Available: Yes
Financial Comments: Must sign NDA prior to receipt of financials
Cert of Compliance: Yes
Road Frontage: 210
Total # Units: 12
# of Diff Unit Floor Plans: Yes
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 12000
Total Parking Spaces: 24
Waterfront: No
School District: Traverse City

Tax Info

Tax ID #: 285110104210
Taxable Value: 672100
SEV: 672100
For Tax Year: 2021
Seller's Annual Property Tax: 36809
Tax Year: 2021
Spec Assessment & Ty: Zero
Zoning: Commercial

Remarks Misc

Directions: Us-31/M-72 Munson Ave to Munson place---apartments are first drive to the right

Status Change Info

Under Contract Date: 2021-09-17
Sold Date: 2021-12-17
Sold Price/SqFt: 150

More Information

Waterfront Options

Water Access Y/N: No

Access Feat

Accessibility Features: Yes

Income and Expenses

Annual Insurance: 5227
Annual Maintenance: 4800
Annual Utilities: 3240
Gross Op. Inc.: 172680
Net Operating Income: 119604
Operating Expense: 3000

Unit 1

Unit #: Yes
Unit Description: 2bdrm, 2bath unit
Identical Units: 12
SqFt: 1000
Occupied: Yes
Monthly Rent: 1200
Bathrooms: 2
Full Baths: 2

Property Features

Accessibility Feat: 36 Inch Entrance Doo; 36' or + Hallway; Accessible Bath Sink; Accessible Kitchen Sink; Accessible M Flr Hal; Accessible Mn Flr Be; Accessible Mn Flr Fu; Grab Bar Mn Flr Bath; No Step Entrance Exterior Material: Brick; Vinyl Siding Roofing: Composition Substructure: Slab Lot Description: Level Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer Extras: Tenant Storage Owner Pays: Sewer; Trash Collection; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Central Air Driveway: Asphalt; Paved Street Type: Paved; Private Mineral Rights: Unknown Terms Available: Cash; Conventional; Tax Def Exchange; Other Possession: Close Of Escrow Sale Conditions: None Unit 1: A/C Unit; Central Air; Deck/Patio; Dishwasher; Garb Disp; Range Oven; Refrigerator; Sep. Heat System; W/D Hookup

Documents

Floor Plan ›

Listing Office: McLauchlin Realty, Inc.

Listing Agent: Scott McLauchlin

Last Updated: December - 20 - 2021

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