120 N Farmer Street, Otsego, MI 49078
120 N Farmer Street, Otsego, MI 49078
120 N Farmer Street, Otsego, MI 49078
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$375,000
Est. payment /mo
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3,049 Sqft Lot
New

120 N Farmer Street Otsego, MI 49078

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Lilian Felix

Lilian Felix

+1(616) 337-7418

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Key Details

Property Type Multi-Family

Sub Type 5+ Units

Listing Status Active

Purchase Type For Sale

Municipality Otsego City

MLS Listing ID 26016147

Year Built 1870

Annual Tax Amount $3,989

Tax Year 2025

Lot Size 3,049 Sqft

Acres 0.07

Lot Dimensions 30.64x101

Property Sub-Type 5+ Units

Source Michigan Regional Information Center (MichRIC)

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

Location

State MI

County Allegan

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

Rooms

Basement Full

Interior

Heating Forced Air

Exterior

Utilities Available Natural Gas Connected, Electricity Connected, Cable Connected

View Y/N No

Roof Type Composition

Street Surface Paved

Total Parking Spaces 10

Building

Lot Description Sidewalk

Structure Type Vinyl Siding

New Construction No

Schools

School District Otsego

Others

Tax ID 54-100-120-70

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Five Star Real Estate

NEARBY SCHOOL & BUSINESS

Lilian Felix
Lilian Felix

Agent | License ID: 6501433130

+1(616) 337-7418 | lilian@lilianfelix.com

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120 N Farmer Street