Legal Duplex on Triple
535 W Twelfth Street Traverse City, MI 49684
For Sale
Under Contract
$599,000
SINGLE_FAMILY - Traverse City, MI
Property Size2,490 SF
Lot Size0.28 Acres
Price / SF$240.56
Days on Market42
Property Features for 535 W Twelfth Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
Residential,Multi-Family,
Bedrooms
3
Bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Den, Bathroom 2, Bedroom 2, Bathroom 3
Patio and Porch features
Patio
Interior features
Granite Kitchen Tops, Den/Study
Exterior features
Patio, Sidewalk, Landscaped
Fireplace
1
Appliances
Refrigerator, Oven/Range, Dishwasher, Microwave, Washer, Dryer, Blinds, Drapes, Curtain Rods
Standard status
Active Under Contract
Size
2,490 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
LOTS 16-17-18 BLOCK 5 HANNAH'S 5TH ADD
Building Details
Year built
1948
Floors in Building
2
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
REMAX Bayshore - Union St TC
(231) 941-4500
Listed By:
Troy Daily · License #6501442788
(231) 288-7676
Added: Jun 18
Changed: Jul 28
Last Checked: Jul 29 at 10:06PM
MLS# 1946785
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.
Located at 535 W Twelfth Street in Traverse City, this legal duplex sits on a triple lot and offers two separate living setups with multiple update and improvement points. The main level features a 2-bed, 1-bath residence with approximately 1,870 square feet, including a kitchen remodeled in 2020 and a bathroom updated in 2023. A dining room and greenhouse addition (2009) provide additional functional space, and new storm doors and a front entry were added in 2026.
The upper unit is currently operating as a licensed hair salon, updated in 2012 with A/C added at that time. It can convert back to a 1-bed, 1-bath apartment with removal of a wash station and tile replacement. The turnkey salon business is available for purchase separately at $12,500 and could transfer to a qualified buyer; transfer of the business is not required for the real estate sale, and additional information can be requested from the listing agent.
The lower level includes a full kitchen and full bathroom, along with a non-conforming room that could be converted to a bedroom with the addition of an egress window. Mechanical updates include a furnace and water heater replaced in 2018. Windows are original, and siding with storms was updated approximately in 2003. Parking includes a 2-car driveway accessed from the alley, with street parking serving the salon.
The upper unit is currently operating as a licensed hair salon, updated in 2012 with A/C added at that time. It can convert back to a 1-bed, 1-bath apartment with removal of a wash station and tile replacement. The turnkey salon business is available for purchase separately at $12,500 and could transfer to a qualified buyer; transfer of the business is not required for the real estate sale, and additional information can be requested from the listing agent.
The lower level includes a full kitchen and full bathroom, along with a non-conforming room that could be converted to a bedroom with the addition of an egress window. Mechanical updates include a furnace and water heater replaced in 2018. Windows are original, and siding with storms was updated approximately in 2003. Parking includes a 2-car driveway accessed from the alley, with street parking serving the salon.
Key Highlights
- Legal duplex on a triple lot with a lower unit and upper unit, plus room for gardens and outdoor living
- Main level 2‑bed, 1‑bath layout across 1,870 sq ft; kitchen remodeled in 2020 and bathroom updated in 2023
- Upper unit currently operated as a licensed hair salon; updated in 2012 with A/C added at that time
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 | $40.3k | $16.20 |
| − Vacancy | −$1.8k | −$0.73 |
| EGI | $38.5k | $15.47 |
| − OpEx | −$11.6k | −$4.64 |
| NOI | $27.0k | $10.83 |
2,490 SF · lease $16.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$385.2K
$337.1K – $449.4K
NOI $26,966 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$338.1K
$295.8K – $394.4K
NOI $23,665 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$540.9K
$473.3K – $631.1K
NOI $37,864 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex with main-level 2 bed/1 bath and an upper unit operating as a licensed salon, plus outdoor living on a triple lot.
Where is this duplex located?
The property is located at 535 W Twelfth Street Traverse City, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Legal duplex on a triple lot with a lower unit and upper unit, plus room for gardens and outdoor living; Main level 2‑bed, 1‑bath layout across 1,870 sq ft; kitchen remodeled in 2020 and bathroom updated in 2023; Upper unit currently operated as a licensed hair salon; updated in 2012 with A/C added at that time
