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USAMIChelsea413 Madison St
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$562,000

413 Madison St, Chelsea, MI

Real Estate

Sold

$--,---,---
$550,000
008
  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage Yes
Taxes $7,206
Lot Size 
Approx. Age 1920
MLS® Number 81025017653

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

OFFER DEADLINE @ 6 PM MONDAY, MAY 5TH. 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.Turnkey passive income on this charming FULLY OCCUPIED property! These don't come around often, so schedule your showing today.Show Description
MLS® Number81025017653
Laundry LevelCommon Area, In Basement
Central VacNo
FireplaceNo
Acreage0.4
Exterior
GarageYes
Approx. Age1920
BasementFull
DrivewayConcrete, Garage, Paved
Garage Spaces
HeatForced Air, Natural Gas
A/C
Heating Fuel

Extras

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