120 N Farmer Street, Otsego, MI 49078
- $375,000
- List Price
- $375,000
- Days on Market
- 101
- MLS#
- 26016147
- Status
- ACTIVE
- Type
- Multifamily
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 low-maintenance, passive income generator in a growing downtown market.
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Additional Information
- Owner Pays
- None
- Taxes
- $3,989
- Acres
- 0.07
- Basement
- Full
- Heating
- Forced Air
- Roofing
- Composition
- School District
- Otsego
- Tenant Pays
- Electricity, Gas, Sewer, Trash Collection, Water
- Total Parking Spaces
- 10
- Utilities
- Cable Connected, Natural Gas Connected, Electricity Connected
- Water
- Public Water
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Listing courtesy of Listing Agent: Adam Atwood from Listing Office: Five Star Real Estate.
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