$375,000
Otsego, MI 49078
MLS# 26016147
1 / 34
Property Description
Turnkey investment opportunity in the heart of downtown Otsego! This 5-unit mixed-use building offers strong, consistent cash flow with a current gross income of $4,030/month and an impressively low expense ratio. A major bonus for investors--city-owned parking means reduced maintenance responsibilities and costs, as the municipality handles parking areas and sidewalks. The property features a versatile unit mix, including two approximately 950 sq ft main-floor commercial suites with excellent street presence, plus three residential units: a well-appointed 1-bedroom/1-bath apartment, a spacious 2-bedroom/1-bath unit, and a studio apartment. All units have seen significant updates, providing a clean, modern feel that attracts and retains quality tenants. Whether you're looking to expand your portfolio or secure a stable, income-producing asset, this property checks all the boxes. Fully occupied, professionally positioned, and truly turnkey--this is a rare opportunity to own a
Details
Maps
Location & Property Info
Cross Streets: Court and M89
Property Sub-Type: 5+ Units
Municipality: Otsego City
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 95.08
General Property Info
New Construction: No
Lot Dimensions: 30.64x101
Financial Available: Yes
Road Frontage: 30.64
Waterfront: No
Basement: Yes
Total # Units: 5
# of Diff Unit Floor Plans: 5
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 3944
Total Parking Spaces: 10
School District: Otsego
Lot Measurement: Acres
Lot Square Footage: 3049
Lot Acres: 0.07
Year Built: 1870
Tax Info
Taxable Value: 62269
SEV: 68100
For Tax Year: 2025
Seller's Annual Property Tax: 3989.77
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: none known
Zoning: Commercial
Tax ID #: 54-100-120-70
Remarks & Misc
Public Remarks: Turnkey investment opportunity in the heart of downtown Otsego! This 5-unit mixed-use building offers strong, consistent cash flow with a current gross income of $4,030/month and an impressively low expense ratio. A major bonus for investors--city-owned parking means reduced maintenance responsibilities and costs, as the municipality handles parking areas and sidewalks. The property features a versatile unit mix, including two approximately 950 sq ft main-floor commercial suites with excellent street presence, plus three residential units: a well-appointed 1-bedroom/1-bath apartment, a spacious 2-bedroom/1-bath unit, and a studio apartment. All units have seen significant updates, providing a clean, modern feel that attracts and retains quality tenants. Whether you're looking to expand your portfolio or secure a stable, income-producing asset, this property checks all the boxes. Fully occupied, professionally positioned, and truly turnkey--this is a rare opportunity to own a
Legal: SLY 34.64 FT OF LOT 120 O. P. SEC 22 & 23. TAX MAP: 0.07 AC
Lot Description
Sidewalk: 1
Street Type
Paved: 1
Public: 1
Util Avail at Street
High Speed Internet: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Exterior Material
Vinyl Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Sewer: 1
Trash: 1
Water: 1
Substructure
Full: 1
Owner Pays
None: 1
Unit 1
Unit #: 1
Unit Description: 1 bed 1 bath
Occupied: Yes
Monthly Rent: 830
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Range Oven: 1
Refrigerator: 1
Unit 2
Unit #: 2
Unit Description: 2 bed 1 bath
Occupied: Yes
Monthly Rent: 900
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Dishwasher: 1
Range/Oven: 1
Refrigerator: 1
Unit 3
Unit #: 3
Unit Description: Studio
Occupied: Yes
Monthly Rent: 800
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Unit 4
Unit #: 118
Unit Description: Lower Commercial
SqFt: 950
Occupied: Yes
Monthly Rent: 725
Bathrooms: 1
Half Baths: 1
Unit 5
Unit #: 120
Unit Description: Lower Commercial
SqFt: 975
Occupied: Yes
Monthly Rent: 775
Bathrooms: 1
Half Baths: 1
Possession
Subject To Tenant Rights: 1
Location Property Info
County: Allegan
Street #: 120
Street Direction: N
Street Name: Farmer
Suffix: Street
State: MI
Zip Code: 49078
Zip (4): 1118
OfficeContract Info
Status: Active
Current Price: $375,000
List Price: $375,000
Listing Date: 2026-04-17
Remarks Misc
Directions: N on S Farmer, past E Allegan St. Building is on the right.
Property Features
Exterior Material: Vinyl Siding
Roofing: Composition
Substructure: Full
Lot Description: Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected
Util Avail at Street: High Speed Internet
Owner Pays: None
Tenant Pays: Electric; Gas; Sewer; Trash; Water
Heat Source: Natural Gas
Heat Type: Forced Air
Street Type: Paved; Public
Terms Available: Cash; Conventional
Possession: Subject To Tenant Rights
Sale Conditions: None
Unit 1: Range Oven; Refrigerator
Unit 2: Dishwasher; Range/Oven; Refrigerator
Unit 3: Range/Oven; Refrigerator
Supplements
low-maintenance, passive income generator in a growing downtown market.
Listing Office: Five Star Real Estate
Listing Agent: Adam Atwood
Last Updated: April - 17 - 2026
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