MI > Otsego > Gaylord > 3551 W Otsego Lake Drive

$1,200,000

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  • 4 Units
  • MLS# 201831188
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Real Estate One of Alpena, Houghton, and Higgins Lake

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-304-6700

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Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

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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.

Property Information

Status
Active 
Address
3551 W Otsego Lake Drive 
City
Gaylord 
Zip
49735 
Style
Cottage 
Possession
at closing 
List Price
$1,200,000
Subdivision
T30N R3W 
County
Otsego 
Body of Water
Otsego Lake 
Total No of Units

School Information

School District
Gaylord 

Taxes

Taxes
$6,046 

Rooms and Land

Unit1
Bedrooms: 2 Bathrooms: 1.00 Finished SqFt: 819
Unit2
Bedrooms: 1 Bathrooms: 1.00 Finished SqFt: 400
Unit3
Bedrooms: 2 Bathrooms: 1.00 Finished SqFt: 672
Unit4
Bedrooms: 2 Bathrooms: 1.00 Finished SqFt: 672
Lot Dimensions
150x674x150x684 

Features

Style
Cottage 
Exterior Features
Aluminum, Vinyl 
Garage
2.0 
Basement
Crawl Space 
Appliances
Dishwasher, Electric Range, GasRange/Oven, Microwave, Refrigerator 
Cooling
Central Air, Window A/C 
Heating
Forced Air, Natural Gas, Wood 

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  • Market Statistics
  • Property History
  • Schools Information
  • Local Business
Market Statistics
Property History
MLS Number New Status Previous Status Activity Date New List Price Previous List Price Sold Price DOM
201831189 Active Aug 15 2024 10:04AM $1,200,000 304
201831188 Active Aug 15 2024 9:31AM $1,200,000 304
201825733 Expired Active Aug 10 2024 2:31AM 365
201825744 Jun 26 2024 5:20PM $1,200,000 $1,300,000 365
201825733 Jun 25 2024 11:03AM $1,200,000 $1,300,000 365
201825744 Active Aug 11 2023 10:20AM $1,300,000 365
201825733 Active Aug 10 2023 2:50PM $1,300,000 365
School Information
Local Business

Learn More About This Listing

Real Estate One of Alpena, Houghton, and Higgins Lake

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-304-6700

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

By proceeding, you consent to receive calls, emails, and texts from Real Estate One and others about your inquiry and other home-related matters, but not as a condition of any purchase. To opt-out, you can reply 'stop' to texts or click the unsubscribe link in the emails. Msg/data rates may apply. View Privacy Policy.

Listing Broker

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Listing Courtesy of Smith Realty Group
Office Address 1349 S. Otsego Ave.

3551 W Otsego Lake Drive Gaylord
Contact us
$1,200,000
For Sale • No. of Units: 4