MI > Chelsea
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
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Ryan Stanek

Ryan Stanek

+1(248) 719-2818
$550,000
Est. payment /mo
4 Beds
0.4 Acres Lot
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Coming Soon

Purchase Type For Sale

MLS Listing ID 81025017653

Bedrooms 4

Originating Board Greater Metropolitan Association of REALTORS®

Year Built 1920

Annual Tax Amount $7,205

Lot Size 0.400 Acres

Acres 0.4

Lot Dimensions 66x265

Property Description

RARE opportunity to own one of Downtown Chelsea's multi-family homes! This 1920 Dutch Colonial 4-plex just steps away from shops, restaurants, and amenities yields about $66,000 a year in gross income, an impressive 82% growth in revenue over the past 6 years with potential to grow even more as the rental rates are below market rate. The property hosts 4 units. Unit 1 (main floor front): 2 bed, 1 bath; Unit 2 (main floor back): 1 bed, 1 bath; Unit 3 (upper): 1 bed, 1 bath; Unit 4 (basement): 1 bed, 1 bath. Leases expire May 1, 2026. There are 8 parking spots, a 2-car garage, and a spacious green backyard. Tenants share driveway, laundry, and on-site storage in basement. Roof was replaced in 2024. Less than 20 minutes to Ann Arbor and 30 to Jackson. Don't miss out on your opportunity forturnkey passive income on this charming FULLY OCCUPIED property! These don't come around often, so schedule your showing today.

Location

State MI

County Washtenaw

Area Chelsea

Zoning Other

Direction E of Main Street, South of Dexter-Chelsea

Interior

Interior Features Other, Laundry Facility

Heating Forced Air

Fireplace no

Heat Source Natural Gas

Laundry 1

Exterior

Garage Spaces 8.0

Roof Type Composition

Road Frontage Paved, Pub. Sidewalk

Garage no

Building

Sewer Public Sewer (Sewer-Sanitary), Storm Drain

Water Public (Municipal)

Structure Type Aluminum

Schools

School District Chelsea

Others

Pets Allowed Yes

Tax ID 060707330004

Ownership Private Owned

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

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Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Giselle Gaitan of @properties Christie's Int'lAA

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