3551 W Otsego Lake Drive $1,200,000

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    3551 W Otsego Lake Drive Gaylord, MI 49735

    • 0 Beds
    • 0 Baths
    • Multi-Family
    • MLS# 201831188
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    Views: 11 Days On Site: 100

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    Property Details

    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.

    • General Features
      • Type Other
      • Style Cottage
      • Business Income Business Opportunity, Income Property, Other
      • Subdivision T30N R3W
      • County Otsego
    • Building Features
      • Construction Frame
      • Exterior Aluminum, Vinyl
      • Patio/Deck Enclosed Porch,Open Deck
      • Basement Crawl Space
      • Interior Features Cable, Ceiling Fans, Hardwood Floors, Vaulted Ceilings, Vinyl Floors
      • Heating Forced Air, Natural Gas, Wood
      • Cooling Central Air, Window A/C
      • Appliances Dishwasher, Electric Range, GasRange/Oven, Microwave, Refrigerator
      • Fireplace Wood Stove
      • Laundry None
    • Room Features
      • Unit 1 Approx. SqFt. 819
      • Unit 1 # of Bedrooms 2
      • Unit 1 Baths 1.00
      • Unit 1 Occupied Yes
      • Unit 1 Present Rent 975.00
      • Unit 2 Approx. SqFt. 400
      • Unit 2 # of Bedrooms 1
      • Unit 2 Baths 1.00
      • Unit 2 Occupied Yes
      • Unit 2 Present Rent 950.00
      • Unit 3 Approx. SqFt. 672
      • Unit 3 # of Bedrooms 2
      • Unit 3 Baths 1.00
      • Unit 3 Present Rent 1020.00
      • Unit 4 Approx. SqFt. 672
      • Unit 4 # of Bedrooms 2
      • Unit 4 Baths 1.00
      • Unit 4 Present Rent 1050.00
    • Property Features
      • Lot Size 150x674x150x684
      • Landscaping Lawn,Trees
      • Lake River Name Otsego Lake
      • Fuel Natural Gas
      • Electric Master, Separate
      • Sewer Septic,Shared Septic
      • Water Shared Well,Well
    • Schools
      • Elementary School Gaylord
      • High School Gaylord
      • School District Gaylord

    Neighborhood

    49735 (Gaylord) Demographics

    45 Median Age
    77 Population Density (per sq. mile)
    39% College Educated
    $56,270 Estimated Median Income
    6,137 Estimated Total Home Owners
    1,953 Estimated Total Renters
    76% / 24% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    19,865 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $315,000 Median Sales Price
    26 Homes Sold
    37 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,200,000
        8/15/2024 9:36:00 AM New in Database Source: Multiple Listing Service New Value: $1,200,000

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        The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than the firm which owns this website are marked with the WWLX logo and the detailed information about said listing includes the listing office. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor the broker which owns this website shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. WWLX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Water Wonderland MLS, Inc © All rights reserved.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.