3551 W Otsego Lake Drive, Gaylord, MI 49735 (MLS# 201825733)
3551 W Otsego Lake Drive, Gaylord, MI 49735
$1,300,000
Property Type:
MultiFamily
Status:
Active
Current Price:
$1,300,000
List Date:
8/10/2023
Last Modified:
8/10/2023
Description
Possibilities abound for this unique, multifamily property on Otsego Lake. 4 cottages with excellent short- and long-term rental history, 150' of beautiful, sandy Otsego Lake frontage and 2.4 acres of prime property. Only a handful of lots this size still exist on Otsego Lake.
Two cottages were built in 2015, Two renovated. Shared 20x20 garage for storage, private water system, newer pump-back septic system upgraded in 2015.
The lot size gives you the option of adding additional cottages or a larger residence. There is also room for a large outbuilding, which could be divided for separate storage.
Great return on investment as-is, or expand for even higher potential.
More Information MLS# 201825733
Contract Information
Current Price: $1,300,000
Begin Date: 2023-08-10
List Price: $1,300,000
Status: Active
Property Information
Type: Other
Realtor.com Type: Multi-Family
Lake/Rvr/Creek/Strm: Otsego Lake
Frontage Amount: 150'
Lot Size Dimensions: 150x674x150x684
Basement: No
Garage Y/N: 1
Garage Stall: 2
Garage Type: Detached/UN
Garage Size: 20x20
School District: Gaylord
SqFt Source: Agent Measure
# Units: 4
Location, Tax and Legal
County: Otsego
St. #: 3551
Street Direction Pfx: W
Street Name: Otsego Lake
Street Suffix: Drive
State: MI
Zip Code: 49735
In City Limits: No
Ownership Status: Owner
Township/City/Village: Bagley
Subdivision or T/R: T30N R3W
Zoning: RR
Directions and Remarks
Directions: From Gaylord, S Otsego Ave, RIGHT on McCoy Rd, LEFT on Disckerson Rd, RIGHT on N Otsego Lake Rd, continue on W Otsego Lake Rd. Property on Left.
Internet Access: Cable
Unit 1
U1 # Bedrooms: 2
U1 Baths: 1
U1 Approx Sq Ft: 819
U1 Present Rent: 975
U1 Car Storage: None
U1 # Spaces: 2
U1 Unit Location: M
U1 OCC: Yes
U1 Furnished: Yes
U1 Type of Lease: M
Lease End Date: 2023-08-31
Unit 2
U2 # Bedrooms: 1
U2 Baths: 1
U2 Approx Sq Ft: 400
U2 Present Rent: 950
U2 Car Storage: None
U2 # Spaces: 1
U2 Unit Location: M
U2 OCC: Yes
U2 Furnished: Yes
U2 Type Of Lease: M
Lease End Date: 2023-08-31
Unit 3
U3 # Bedrooms: 2
U3 Baths: 1
U3 Approx Sq Ft: 672
U3 Present Rent: 1020
U3 Car Storage: None
U3 # Spaces: 2
U3 Unit Location: M
U3 Furnished: Yes
Unit 4
U4 # Bedrooms: 2
U4 Baths: 1
U4 Approx Sq Ft: 672
U4 Present Rent: 1050
U4 Car Storage: Other
U4 # Spaces: 2
U4 Furnished: Yes
Schools
Elementary School: Gaylord
High School: Gaylord
Taxes and Possession
Taxes: $5,772.34
Tax Year: 2022
Possession: at closing
Association Dues: No
Property Features
Style: Cottage
Construction: Frame
Exterior: Aluminum; Vinyl
Patio/Deck: Enclosed Porch; Open Deck
Landscaping: Lawn; Trees
Interior: Cable; Ceiling Fans; Doorwall; Hardwood Floors; Vaulted Ceilings; Vinyl Floors
Appliances: Dishwasher; Electric Range; GasRange/Oven; Microwave; Refrigerator
Fireplace: Wood Stove
Heating: Forced Air; Natural Gas; Wood
Cooling: Central Air; Window A/C
Windows: Vinyl
Basement: Crawl Space
Water Heater: Gas
Water: Well; Shared Well
Sewer: Septic; Shared Septic
Laundry: None
Electric: Master; Separate
Fuel: Natural Gas
Util Pd By Owner: Electric; Water
Business/Income: Other; Business Opportunity; Income Property
Showing Instructions: Appointment Only; Lock Box; Rented; Showingtime
Terms: Cash; Conventional Mort
Documents
Disclosures ›Listing Office: smith realty GROUP
Last Updated: August - 10 - 2023
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