Listing provided courtesy of Five Star Real Estate- MLS# 26016147MLS Provider

120 N Farmer StreetOtsego, MI 49078

Multi-Family · 0.07 Acres
$375,000 Active

120 N Farmer Street Overview

Time on Site:
74 days
Visits:
0

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.

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120 N Farmer Street Facts & Features

  • Type Multi-Family
  • Lot 0.07 Acres

Details

General

Building Information

  • New Construction: No
  • Year Built: 1870

Location/Region

  • County Or Parish: Allegan

Rent/Lease Information

  • Tenant Pays: Electric,Water,Trash,Sewer,Gas

Tax Information

  • Tax Annual Amount: 3989.77

General Information

  • Parcel Number: 54-100-120-70
  • Property Sub Type: 5+ Units
  • Property Type: Multi Family

Interior

Beds/Baths

  • Bathrooms Total: 0

General Information

    Exterior

    Lot Information

    • Lot Features: Sidewalk
    • Lot Size Dimensions: 30.64x101
    • Lot Size Square Feet: 3049.0
    • Lot Size Units: Acres
    • Road Surface Type: Paved

    Waterfront/View

    • Waterfront: No

    Building Exterior/Construction

    • Construction Materials: Vinyl Siding
    • Roof: Composition

    General Information

    • Number Of Units Total: 5
    • Utilities: Natural Gas Connected,Electricity Connected,Cable Connected

    120 N Farmer Street Neighborhood

    Community

    49078 (Otsego) Demographics

    40
    Median Age
    200
    Population Density (per sq. mile)
    23%
    College Educated
    $57,797
    Estimated Median Income
    2,924
    Estimated Total Home Owners
    765
    Estimated Total Renters
    79% / 21%
    Estimated Owner / Renter Divide
    3
    Estimated Average Household Size
    Community data courtesy of LiveBy, Inc.

    Schools

    School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

    120 N Farmer Street Monthly Cost

    $
    $ %
    %
    $
    $
    * All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

    120 N Farmer Street Market Data

    Based on the last 30 days in this zip code

    $317,591
    Average List Price
    $180
    Average Price per Square Foot
    7
    Properties Sold
    51
    Average Days on Market
    70
    Properties for Sale
    Calculations provided by Reliance Network

    120 N Farmer Street History

    Date Event Value Agent
    4/17/2026Source: MichRIC MLS Added to Database
    April 17, 2026