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3551 W Otsego Lake Drive, Gaylord, MI 49735

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For Sale

$995,000

7 beds • 4 baths

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Basement
    Amenities

Explore this Property

Possibilities abound for this unique, multifamily property on Otsego Lake. 4 cottages fully occupied with long term tenants, but month to month leases offer the opportunity to do short term rentals. 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.
MLS# 201836501

Courtesy Of Smith Realty Group
1349 S. Otsego Ave., Gaylord, MI 49735
(989) 732-2477

Property Features

  • Amenities
    Vaulted Ceiling, Basement, Ceiling Fan, Water Front
  • Appliances
    Refrigerator, Microwave, Dishwasher
  • Architecture Style
    Cottage
  • Heating System
    Forced Air

Map and Directions

Directions to 3551 W Otsego Lake Drive, Gaylord, MI 49735

Home seller CENTURY 21 Northland

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Monthly Payment Breakdown

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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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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. Information being provided is 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. Information being provided is 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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.