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$ 375,000
Est. payment /mo
New
120 N Farmer ST Otsego City, MI 49078
3,944 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 3,944 sqft
Price per Sqft $95
MLS Listing ID 66026016147
Year Built 1870
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-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 alow-maintenance, passive income generator in a growing downtown market.
Location
State MI
County Allegan
Area Area86202Otsego
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Community Features Sidewalks
Utilities Available CableConnected, ElectricityConnected, NaturalGasConnected
View Y/N No
Roof Type Composition
Building
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Otsego
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Adam Atwood of Five Star Real Estate