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    Traverse City, MI Residential Income Properties for Sale

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    Updated 4-Unit Residential Quadplex
    Updated: Apr 23
    Updated 4-Unit Residential Quadplex

    1627 Rasho Road, Traverse City, MI 49696

    $849,000
    5,008 sqft · 1.10 AC lot
    Four‑unit property near Timber Ridge in Traverse City with three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
    Major 2023/2024 upgrades: new flooring, countertops, appliances, lighting, paint, HVAC units, and 3 new water heaters
    New roof completed February 2024, plus exterior paint
    Shared entry with common laundry; units include refrigerator, oven/range, dishwasher, microwave, washer, and dryer hookups
    Detached 5‑stall garage, adjacent deck area, landscaped grounds with a large lawn bordering woods
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    This listing looks promising.

    Here's a quick look at some key insights for

    1627 Rasho Road, Traverse City, MI 49696

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    • Est. Cap Rate

      6.4%
      Above avg (5.9%)

    • Est. NOI

      $54K
      Annual

    • Price @ 7% Cap

      $775K
      Suggested

    • Property Type

      Multi-Family Dwellings
      Built 1980
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    Three-Unit Residential Income Property
    Updated: Jul 7
    Three-Unit Residential Income Property

    316 Huron Street, Traverse City, MI 49686

    $550,000
    2,636 sqft · 0.34 AC lot
    3‑unit duplex setup with gross rental income of $4,790/month
    Unit A (main level): 3 bedrooms, 1 bath, and an attached two‑car garage
    Unit B (upper level): 2 bedrooms, 1 bath with in‑unit laundry and a private deck
    Separate non‑conforming cottage (Unit C): 1 bedroom and 1 bath
    Built in 1937 with block construction and an asphalt roof
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    Turnkey Live/Work Building with Studio
    Turnkey Live/Work Building with Studio

    1323 S Cass Street, Traverse City, MI 49684

    $975,000
    1,792 sqft · 0.28 AC lot

    ADA-compliant office on the main level plus a fully renovated, furnished studio apartment above.

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    Barrier-Free Assisted Living Home
    Barrier-Free Assisted Living Home

    3205 Supply Road, Traverse City, MI 49686

    $799,000
    3,995 sqft · 3.83 AC lot

    Former assisted living and adult foster care property with barrier-free features, walkout basements, and fire-suppression sprinklers.

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    Fully Remodeled 4-Plex in C-2
    Fully Remodeled 4-Plex in C-2

    607 W Front Street, Traverse City, MI 49684

    $1,700,000
    2,245 sqft · 0.19 AC lot

    Four fully remodeled units in a C-2 commercial zone, with flexible configurations for multiple tenant or group setups.

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    Rezoned Multifamily Development Land
    Rezoned Multifamily Development Land

    2624 Hartman Road, Traverse City, MI 49685

    $740,000
    900 sqft · 5.25 AC lot

    Rezoned to R-3 with on-site well and septic, offering apartment development options on approximately 5.25 acres.

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    Duplex with Attached Garages
    Duplex with Attached Garages

    284 Astro Drive, Traverse City, MI 49685

    $449,900
    2,304 sqft · 0.90 AC lot

    Two updated, two-bedroom units are fully furnished with attached garages for flexible living or rental use.

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    Turn-Key Duplex with Separate Garages
    Turn-Key Duplex with Separate Garages

    3434 & 3436 Mahoney Drive, Traverse City, MI 49686

    $449,900
    1,872 sqft · 1.10 AC lot

    Turn-key duplex offers updated interiors, owned water treatment systems, and separate garages for tenant privacy.

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    Multifamily Development Land
    Multifamily Development Land

    2624 Hartman Road, Traverse City, MI 49685

    $740,000
    5.25 AC lot

    Rezoned multi-family site in Garfield Township with existing well and septic and current tenant occupancy.

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    Zoned Regional Business Development Land
    Zoned Regional Business Development Land

    1470 US-31 N, Traverse City, MI 49686

    $499,000
    1,000 sqft · 0.66 AC lot

    0.66-acre commercial land zoned Regional Business with existing cabins and storage for office, retail, or rentals.

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    Historic Stand-Alone Brick Retail Building
    Historic Stand-Alone Brick Retail Building

    601 Randolph Street, Traverse City, MI 49684

    $1,400,000
    3,250 sqft · 0.06 AC lot

    Stand-alone brick building with retail space plus two one-bedroom apartments and alley access for parking.

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    Remodeled 4-Plex with Flexible Use
    Remodeled 4-Plex with Flexible Use

    607 W Front St, Traverse City, MI 49684

    $1,700,000

    Fully remodeled 4-plex offers multiple unit configurations and flexible C-2 zoning for a variety of commercial and housing uses.

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    Updated Four-Unit Multifamily Property
    Updated Four-Unit Multifamily Property

    Traverse City, MI 49696

    $849,000

    Four-unit property near Timber Ridge with recent updates.

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    Turn-Key Duplex with Separate Garages
    Turn-Key Duplex with Separate Garages

    Traverse City, MI 49686

    $449,900
    1.00 AC lot

    Freshly updated vacant unit paired with a tenant-in-place setup, plus separate garages for improved privacy.

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    Historic Mixed-Use Building Near West Bay
    Historic Mixed-Use Building Near West Bay

    601 Randolph St, Traverse City, MI 49684

    $1,400,000

    Unique mixed-use property in prime location near shopping and dining.

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    Live-Work Building with Parking Lot
    Live-Work Building with Parking Lot

    1323 S Cass Street, Traverse City, MI 49684

    $975,000
    1,792 sqft

    Turnkey office with an ADA-compliant main level and furnished studio apartment above, plus a 16-space parking lot.

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    Duplex with Attached Garages
    Duplex with Attached Garages

    Traverse City, MI 49685

    $449,900

    Two updated two-bedroom units with attached garages, offered furnished and ready for flexible live-in or rental use.

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    Resort with Furnished Rental Units
    Resort with Furnished Rental Units

    Traverse City, MI 49696

    $3,800,000
    36.00 AC lot

    Own a fully furnished resort operation with 19 rental units and a four-bedroom residence on a nature preserve setting.

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    Zoned Regional Business Waterfront Land
    Zoned Regional Business Waterfront Land

    Traverse City, MI 49686

    $499,000
    1,000 sqft

    Waterfront-facing land with two existing cabins and regional business zoning for offices, retail, or rentals.

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    Outdoor Power Equipment Retail Property
    Outdoor Power Equipment Retail Property

    6375 E Traverse Highway, Traverse City, MI 49684

    $949,900
    4,608 sqft · 1.07 AC lot

    Retail and service building with outdoor power equipment parts and a one-bedroom apartment above the main sales area.

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    Based on your search, we've compiled Potential Opportunities for your consideration. Besides 20 Active Listings in Traverse City, MI, we suggest to view alternatives - similar 52 Off-Market properties to explore as potential leads.

    Off-Market Properties in Traverse City, MI

    Consider similar Off-Market properties in Traverse City, MI. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    3269 Wood Duck Ct
    MOBILE HOME PARK, TRAILER PARK

    3269 Wood Duck Ct, Traverse City, MI 49686-5437

    Value Estimation by Request
    View details
    1040 Front St
    Individual retail properties

    1040 Front St, Traverse City, MI 49686

    Value Estimation by Request
    1,864 sqft · 0.63 AC lot
    View details
    Garfield Woods Dr
    Land

    0 Garfield Woods Dr, Traverse City, MI 49686

    Value Estimation by Request
    8.04 AC lot
    View details
    4040 Creekside Dr
    Land

    4040 Creekside Dr, Traverse City, MI 49684

    Value Estimation by Request
    11.40 AC lot
    View details

    Traverse City, MI Residential Income Properties Market Trends and Statistics

    Explore 72 residential income properties for sale in Traverse City, MI, showcased through 20 active listings on our real estate platform. These investment opportunities span a total of 33,230 square feet of properties for sale, with an estimated market value of $11,685,700.

    Sale prices for residential income properties in Traverse City, MI start at $449,900, averaging $898,900, and reaching up to $1,700,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 19
    Short term rental properties 8
    Duplexes 5
    Apartment buildings 4
    Quadplexes 4

    Demographics Overview

    Population 78K
    Population Growth (5Y) -35.5%
    Median Household Income $78,889
    College Educated 59.4%

    High-Yield Neighborhoods for Investment

    Identify Traverse City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49685 $464.9K
    49686 $735.7K
    49684 $1.3M
    49696 $2.3M

    Taxes & Financing

    Tax Rate (average for all types) 4.34%
    Property Tax per SF $71.64 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Grand Traverse County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Grand Traverse County

    Office

    Property Size Breakdown

    The majority of commercial real estate listings in Traverse City fall within the 100,000+ square foot range.

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    Most Searched ZIP Codes in Traverse City, MI

    • 49684
    • 49686
    • 49685
    • 49696

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