Log In/Sign Up
Your email has been sent.
Calypso on East Bay 1500 US 31 13 Unit Apartment Building $18,007,368 CAD ($1,385,182 CAD/Unit) 7.85% Cap Rate Traverse City, MI 49686
INVESTMENT HIGHLIGHTS
- Location: Steps from the public beach on Traverse City's Miracle Mile- known for white sugar sand beaches
- Two car garage on every property keeps cars off the streets and provides a place for guests to loan/unload and stage
- Each unit has a rooftop deck with views of the bay and a lower level deck off of the main living area with gas line for safe barbeques
EXECUTIVE SUMMARY
Small 13 Unit Development of Attached Townhomes. The property is zoned commercial allowing for every townhome in the development to be leased out as a short term rental. The property is located on Traverse City's Miracle Mile in East Bay township. It is a short walk to the public beach park and a mere 5-7 miles to downtown Traverse City and all that it has to offer. And if you want to explore- Elk Rapids is a short drive, Petoskey and Charlevoix a bit farther but still good for an easy day's outing. Plenty of restaurants in the very near vicinity and a small deli/market right next door, which has a very nice selection of wines. These townhomes are great for your multi-generational visitors/guests. Bedrooms are on 2 different floors, and there are 2 different outdoor decks attached to each unit. Proof of concept for townhome style community of STR exists in Traverse City- Ask me about it!
Will consider sales of one or a smaller grouping of units.
Will consider sales of one or a smaller grouping of units.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $18,007,368 CAD | Apartment Style | Townhome |
| Price Per Unit | $1,385,182 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.87 AC |
| Cap Rate | 7.85% | Construction Status | Under Construction |
| No. Units | 13 | Building Size | 28,119 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2026 |
| Zoning | Commercial - The zoning is commercial. Regional Business (RB)-East Bay Township allowing for every unit to be a short term rental | ||
| Price | $18,007,368 CAD |
| Price Per Unit | $1,385,182 CAD |
| Sale Type | Investment |
| Cap Rate | 7.85% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.87 AC |
| Construction Status | Under Construction |
| Building Size | 28,119 SF |
| No. Stories | 3 |
| Year Built | 2026 |
| Zoning | Commercial - The zoning is commercial. Regional Business (RB)-East Bay Township allowing for every unit to be a short term rental |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Oven
- Range
- Views
- Deck
- Dining Room
- Double Pane Windows
- Linen Closet
- Patio
- Porch
- Smoke Free
- Large Bedrooms
- Floor to Ceiling Windows
SITE AMENITIES
- Individual Locking Bedrooms
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 13 | - | 2,063 |
1 1
PROPERTY TAXES
| Parcel Number | 03-208-020-00 | Total Assessment | $673,344 CAD |
| Land Assessment | $0 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
03-208-020-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$673,344 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
1 of 12
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Calypso on East Bay | 1500 US 31
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.