Well-located fourplex just a short walk from all the shops, restaurants, and amenities of downtown Traverse City, making it a highly desirable location for both current and future tenants. Each of the four units features 1 bedroom and 1 bathroom, with two units on the main level and two on the upper level, all with private entrances. The property also offers a shared coin-operated laundry room in the basement for tenant convenience. Each unit is individually metered for gas and electric, providing the opportunity for a future owner to adjust utility responsibilities if desired. Each unit includes one parking space, and rents currently include utilities. Utilities currently paid by the landlord include: electricity, natural Gas / propane, water & sewer, trash collection, recycling. This is a strong opportunity to own a well-positioned multi-unit property in one of Traverse City’s most walkable locations.
Sold for $437,500
$437,500
517 S Oak St, Traverse City, MI 49684
4beds
4baths
2,158sqft
Multi Family
Built in 1900
-- sqft lot
$439,100 Zestimate®
$203/sqft
$1,951 Estimated rent
Home value
$439,100
$404,000 - $479,000
$1,951/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Sarah Bailey Cell:231-360-1099,
Coldwell Banker Schmidt Traverse City 231-922-2350,
Shawn Schmidt 231-499-1990,
Coldwell Banker Schmidt Traverse City
Bought with:
Non Member Office
All Non Member Activity
Source: NGLRMLS,MLS#: 1942885
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Wall Furnace, Natural Gas
Appliances
- Included: Refrigerator, Oven/Range, Freezer
Features
- None
- Basement: Michigan Basement
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 2,158
- Total interior livable area: 2,158 sqft
Property
Parking
- Parking features: None
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Exterior features: Sidewalk
- Waterfront features: None
Lot
- Size: 4,356 Square Feet
- Dimensions: 61 x 50
Details
- Additional structures: Shed(s)
- Parcel number: 285181810100
- Zoning description: Multi-Family,Rental History
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Frame, Vinyl Siding
- Roof: Other
Condition
- New construction: No
- Year built: 1900
- Major remodel year: 1990
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: None
- Subdivision: Perry Hannahs 1st
Location
- Region: Traverse City
Financial & listing details
- Price per square foot: $203/sqft
- Tax assessed value: $137,871
- Annual tax amount: $7,430
- Price range: $437.5K - $437.5K
- Date on market: 3/11/2026
- Cumulative days on market: 82 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Conventional,Cash,FHA,Other
- Ownership type: Private Owner
- Lease term: 12 Months
- Road surface type: Concrete
Price history
| Date | Event | Price |
|---|---|---|
| 6/1/2026 | Sold | $437,500-2.8%$203/sqft |
Source:  NGLRMLS #1942885 Report a problem | ||
| 4/5/2026 | Price change | $450,000-5.3%$209/sqft |
Source: NGLRMLS #1942885 Report a problem | ||
| 3/11/2026 | Listed for sale | $475,000+141.1%$220/sqft |
Source: NGLRMLS #1942885 Report a problem | ||
| 11/13/2017 | Sold | $197,000-12.2%$91/sqft |
Source: Agent Provided Report a problem | ||
| 7/27/2017 | Listed for sale | $224,500-9.8%$104/sqft |
Source: CENTURY 21 Northland #1836174 Report a problem | ||
| 1/4/2016 | Listing removed | $249,000$115/sqft |
Source: CENTURY 21 Northland #1800483 Report a problem | ||
| 5/29/2015 | Listed for sale | $249,000+215.2%$115/sqft |
Source: CENTURY 21 Northland #1800483 Report a problem | ||
| 11/13/1996 | Sold | $79,000$37/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,430 +6.7% | $210,700 +8.7% |
| 2024 | $6,964 +4.8% | $193,800 +16.7% |
| 2023 | $6,645 +2.5% | $166,000 +12.6% |
| 2022 | $6,485 +1.1% | $147,400 +9.2% |
| 2021 | $6,414 +12.6% | $135,000 +16.6% |
| 2020 | $5,697 | $115,800 +6.4% |
| 2019 | $5,697 +2.2% | $108,800 +9.5% |
| 2018 | $5,574 | $99,400 -21.4% |
| 2017 | -- | $126,500 +5.7% |
| 2016 | -- | $119,700 +39.3% |
| 2014 | -- | $85,900 +22.9% |
| 2012 | -- | $69,900 -1.1% |
| 2011 | -- | $70,700 -18.5% |
| 2010 | -- | $86,800 -5.8% |
| 2009 | -- | $92,100 -1.1% |
| 2008 | -- | $93,100 +2.7% |
| 2007 | -- | $90,640 +6% |
| 2005 | -- | $85,520 +5.1% |
| 2004 | -- | $81,380 +14.9% |
| 2003 | -- | $70,820 +3.1% |
| 2002 | -- | $68,690 +12.6% |
| 2001 | -- | $61,010 +36.5% |
| 2000 | -- | $44,680 |
Find assessor info on the county website
Neighborhood: Central
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Nearby schools
GreatSchools rating
- 8/10Central Grade SchoolGrades: PK-7Distance: 0.2 mi
- 7/10Central High SchoolGrades: 8-12Distance: 2.2 mi
- 7/10East Middle SchoolGrades: 6-8Distance: 5 mi
Schools provided by the listing agent
- District: Traverse City Area Public Schools
Source: NGLRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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