Properties for sale in Michigan

Overview

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

Supplements: low-maintenance, passive income generator in a growing downtown market.

Location Property Info

County: Allegan
Street #: 120
Street Direction: N
Street Name: Farmer
Suffix: Street
State: MI
Zip Code: 49078
Zip (4): 1118

General Property Info

Lot Measurement: Acres
Lot Square Footage: 3049
Lot Acres: 0.07
Lot Dimensions: 30.64x101
Year Built: 1870
New Construction: No
Financial Available: Yes
Road Frontage: 30.64
Total # Units: 5
# of Diff Unit Floor Plans: 5
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 3944
Total Parking Spaces: 10
Waterfront: No
School District: Otsego
Basement: Yes

Tax Info

Tax ID #: 54-100-120-70
Taxable Value: 62269
SEV: 68100
For Tax Year: 2025
Seller's Annual Property Tax: 3989.77
Tax Year: 2025
Spec Assessment & Ty: none known
Zoning: Commercial
Homestead %: 0

Remarks Misc

Directions: N on S Farmer, past E Allegan St. Building is on the right.

Access Feat

Accessibility Features: No

More Information

Unit 1

Unit #: Yes
Unit Description: 1 bed 1 bath
Occupied: Yes
Monthly Rent: 830
Bathrooms: Yes
Full Baths: Yes
Range Oven: Yes
Refrigerator: Yes

Unit 2

Unit #: 2
Unit Description: 2 bed 1 bath
Occupied: Yes
Monthly Rent: 900
Bathrooms: Yes
Full Baths: Yes
Dishwasher: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 3

Unit #: 3
Unit Description: Studio
Occupied: Yes
Monthly Rent: 800
Bathrooms: Yes
Full Baths: Yes
Range/Oven: Yes
Refrigerator: Yes

Unit 4

Unit #: 118
Unit Description: Lower Commercial
SqFt: 950
Occupied: Yes
Monthly Rent: 725
Bathrooms: Yes
Half Baths: Yes

Unit 5

Unit #: 120
Unit Description: Lower Commercial
SqFt: 975
Occupied: Yes
Monthly Rent: 775
Bathrooms: Yes
Half Baths: Yes

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

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: Yes

Street Type

Paved: Yes
Public: Yes

Util Avail at Street

High Speed Internet: Yes

Utilities Attached

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes

Exterior Material

Vinyl Siding: Yes

Roofing

Composition: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Trash: Yes
Water: Yes

Substructure

Full: Yes

Owner Pays

None: Yes

Possession

Subject To Tenant Rights: Yes

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

120 N Farmer Street, Otsego, MI 49078