Three-Unit Residential Income
316 Huron Street Traverse City, MI 49686
316 Huron Street, Traverse City, MI, 49686
$550,000
For Sale
$550,000
MULTI_FAMILY - Traverse City, MI
Property Size2,636 SF
Lot Size0.34 Acres
Price / SF$208.65
Days on Market12
Property Features for 316 Huron Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential,Multi-Family,
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 3
- Interior features
- Foyer Entrance, Mud Room, Drywall
- Appliances
- Refrigerator, Oven/Range, Dishwasher, Washer, Dryer, Natural Gas Water Heater, Smoke Alarms
- Standard status
- Active
- Size
- 2,636 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Description
- THT PRT OF SW 1/4 OF SE 1/4 SEC 1 T27N R11W DES AS COM 33 FT W OF NE COR TH S 268 FT TH W 132 FT TH N 268 FT TH E 132 FT TO POB EXC N 155 FT THEREOF
Building Details
- Year built
- 1937
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Block
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency
REMAX Bayshore - Union St TC
(231) 941-4500
500 S Union Street, Traverse City, MI
Listed by
Jennifer Gaston · License #6501397898
(231) 941-5600
Added: Jul 7 Checked: Jul 18 at 5:06 am
MLS# 1947705
Listing URL
Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained residential income property consists of three separate income-producing units within a duplex layout and an additional non-conforming cottage. Unit A is on the main level and features 3 bedrooms and 1 bath, along with an attached two-car garage. Unit B is on the upper level with 2 bedrooms and 1 bath, and includes in-unit laundry and a private deck. Unit C is a separate cottage with 1 bedroom and 1 bath, providing a third rental stream.
The property is described as being at the base of Old Mission Peninsula and is located in-town near East Bay Beach, approximately two blocks away. It also offers convenient access to Northern Michigan College and several local schools, along with downtown Traverse City, shopping, restaurants, beaches, and the TART Trail.
For investors, the three-unit configuration supports portfolio flexibility through multiple tenants. For owner-occupants, the setup provides an opportunity to live in the duplex while generating rental income from the remaining units. The listing also notes the duplex can be converted back to a single-family home, adding another potential use path for the right buyer.
The property is described as being at the base of Old Mission Peninsula and is located in-town near East Bay Beach, approximately two blocks away. It also offers convenient access to Northern Michigan College and several local schools, along with downtown Traverse City, shopping, restaurants, beaches, and the TART Trail.
For investors, the three-unit configuration supports portfolio flexibility through multiple tenants. For owner-occupants, the setup provides an opportunity to live in the duplex while generating rental income from the remaining units. The listing also notes the duplex can be converted back to a single-family home, adding another potential use path for the right buyer.
Key Highlights
- Duplex plus separate non‑conforming cottage (3 income‑producing units) with gross rental income of $4,790 per month
- Unit A (main level): 3 bedrooms, 1 bath, and attached two‑car garage
- Unit B (upper level): 2 bedrooms, 1 bath, in‑unit laundry, and private deck
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.7k | $16.20 |
| − Vacancy | −$1.9k | −$0.73 |
| EGI | $40.8k | $15.47 |
| − OpEx | −$12.2k | −$4.64 |
| NOI | $28.5k | $10.83 |
2,636 SF · lease $16.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$407.8K
$356.8K – $475.8K
NOI $28,547 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$357.9K
$313.2K – $417.6K
NOI $25,053 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$572.6K
$501.1K – $668.1K
NOI $40,084 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Xperinces Mobile
(Bike/Boat/Book/etc) Store
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FAQs
What type of property is this?
Triplex - Three income-producing units include a duplex configuration plus a non-conforming cottage, offering flexible residential use options.
Where is this triplex located?
The property is located at 316 Huron Street Traverse City, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex plus separate non‑conforming cottage (3 income‑producing units) with gross rental income of $4,790 per month; Unit A (main level): 3 bedrooms, 1 bath, and attached two‑car garage; Unit B (upper level): 2 bedrooms, 1 bath, in‑unit laundry, and private deck
