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    3551 W Otsego Lake Dr Gaylord, MI 49735

    For Sale
    $995,000

    MULTI_FAMILY - Cottage - Gaylord, MI

    Days on Market:
    54
    Last Refresh:
    Dec 8 at 11:06 am

    Property Features for 3551 W Otsego Lake Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RR
    Rooms
    Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 1, Bedroom 1
    Bedrooms
    7
    APN
    010-020-400-100-00
    Interior features
    Cable, Ceiling Fans, Doorwall, Hardwood Floors, Vaulted Ceilings, Vinyl Floors
    Basement
    Crawl Space
    Appliances
    Refrigerator, Microwave, Electric Range, Dishwasher

    Utilities

    Sewer type
    Septic Tank, Shared Septic
    Heating system
    Natural Gas, Wood, Forced Air
    Cooling system
    Central Air
    Water source
    Well
    Water front
    1

    Building Details

    Number of units
    4
    Building materials
    Aluminum, Vinyl
    Architectural style
    Cottage

    Smith Realty Group (989) 732-2477 [email protected]

    Listing agent Ryan Wojan (989) 732-2477

    Listing date Oct 16, 2025

    MLS# 201836501 Listing URL

    Copyright © 2025 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Otsego Lake Multifamily Cottage Property

    This multifamily property on Otsego Lake features four cottages. The cottages are fully occupied with long-term tenants on month-to-month leases, offering the opportunity for short-term rentals. The property includes 150 feet of sandy Otsego Lake frontage and spans 2.4 acres. Two of the cottages were constructed in 2015, while the other two have been renovated. A shared 20x20 garage provides storage space. The property utilizes a private water system and a newer pump-back septic system that was upgraded in 2015. The lot size allows for the addition of more cottages or a larger residence. There is also room for a large outbuilding, which could be divided for separate storage. Located in Gaylord, MI, this property offers potential for return on investment as-is, or expansion for even higher potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dust Busters Cleaning ... House Cleaning Service

    Suggested Use

    Realty agency Restaurant Building Supply Auto Repair Shop Wholesale Shop Accounting Firm Hotel & Motel Auto Parts Store Kitchen & Bath Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gaylord
    County
    Otsego
    State
    Michigan
    Longitude
    -84.69613
    Latitude
    44.980552

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    FAQs

    What type of property is this?
    Quadplex - Multifamily property with 150' lake frontage and rental income.
    Where is this quadplex located?
    The property is located at 3551 W Otsego Lake Dr Gaylord, MI.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - 150' of sandy Otsego Lake frontage on 2.4 acres - a rare find.; - Four fully occupied cottages provide immediate rental income.; - Month-to-month leases offer flexibility for short-term rentals.
    (989) 732-2477
    Request Owner's contact information
    3551 W Otsego Lake Dr Gaylord, MI 49735
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3551 W Otsego Lake Dr Gaylord, MI 49735
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