MI > Chelsea
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
Chelsea, MI 48118,413 Madison Street
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Luke Boyea

Luke Boyea

+1(231) 818-9328
$ 550,000
Est. payment | /mo

4 Beds

0.4 Acres Lot

Save
$ 550,000
Est. payment | /mo
Save

4 Beds

0.4 Acres Lot

Key Details

Property Type Multi-Family

Listing Status Contingent

Purchase Type For Sale

MLS Listing ID 81025017653

Bedrooms 4

Year Built 1920

Annual Tax Amount $7,205

Lot Size 0.400 Acres

Acres 0.4

Lot Dimensions 66x265

Source Greater Metropolitan Association of REALTORS®

Property 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.

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

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

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agent
Luke Boyea

Agent | License ID: 404566

+1(231) 818-9328

164 Indusco Ct., Troy, MI, 48083

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