Four-Unit Property Near
For Sale
$539,900
1055 E Front Street, Traverse City, MI 49686
Four residential units feature private entrances, rear parking, and proximity to downtown Traverse City and the East Bay waterfront.
Property Size3,138 SF
Lot Size0.19 Acres
Days on Market54
Property Features for 1055 E Front Street
General Information
Standard status
Active
Size
3,138 SF
Lot size
0.19 Acres
Property subtype
Multi Family
Occupancy
75%
Property Condition
Severity
Repairs Needed
Evidence
light updates
Additional Details
Gross Income
$41,100
Multifamily Units
4
Building Details
Building Size
3,138 SF
Year Built
1895
Tenancy
Multi
Listing Agency:
REO-TCFront-233021
Listed By:
Erica Foerster
(210) 286-8954
Source:
Themittengroup
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 24 at 10:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REO-TCFront-233021
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Investment Insights
Based on property information with market context.
Built in 1895, this four-unit residential property occupies a .19-acre double lot near Traverse City's downtown-to-bay corridor. Each apartment has a private entryway, while Units 2 and 4 have received the most recent updates. Unit 3 includes a dedicated washer and dryer, and tenant parking is positioned behind the building with access from the alley.
The property is located at 1055 E Front St, close to downtown shops, restaurants, and the East Bay waterfront. Mature trees contribute to the established setting, while the location scores 64 for walkability and 61 for bikeability. Three of the four units are leased, with Unit 2 available.
The property is located at 1055 E Front St, close to downtown shops, restaurants, and the East Bay waterfront. Mature trees contribute to the established setting, while the location scores 64 for walkability and 61 for bikeability. Three of the four units are leased, with Unit 2 available.
Key Highlights
- Four‑unit property on a .19‑acre double lot
- Built in 1895 at 1055 E Front St, Traverse City, MI 49686
- Units 2 and 4 have been most recently updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,984
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$679,680
$679.7K
Cap Rate 7%
$485,486
$485.5K
Cap Rate 9%
$377,600
$377.6K
Market Conditions
NOI Build-Up for 3,138 SF
Gross rent
$50.8K $16.20/SF
− Vacancy
−$2.3K −$0.73/SF
EGI
$48.5K $15.47/SF
− OpEx
−$14.6K −$4.64/SF
NOI
$34.0K $10.83/SF
Area
Grand Traverse County, MI
Vacancy
4.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$679,680
Cap Rate 7%
$485,486
Cap Rate 9%
$377,600
Alternative Uses
Best Use
Multifamily LT 5
$485.5K
$424.8K – $566.4K
NOI $33,984 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$426.1K
$372.8K – $497.1K
NOI $29,824 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$681.7K
$596.5K – $795.3K
NOI $47,718 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
Explore this area
Business Placement
Demographics for 49686, MI
25,859
Population
13,261
Households
2
Avg Household Size
45
Median Age
46%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
547
Density / Sq Mi
$71,198
Median Household Income
$40,373
Median Earnings
$1,209
Median Rent
$295,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature private entrances, rear parking, and proximity to downtown Traverse City and the East Bay waterfront.
Where is this quadplex located?
The property is located at 1055 E Front Street Traverse City, MI.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Four‑unit property on a .19‑acre double lot; Built in 1895 at 1055 E Front St, Traverse City, MI 49686; Units 2 and 4 have been most recently updated
