REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

Apr

Sun

Apr

Mon

Apr

Kami Kennedy

homesbykamikennedy@gmail.com +1(616) 856-4188

$ 550,000

Est. payment -/mo

Save

Coming Soon

413 Madison Street Chelsea, MI 48118

0.4 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 2 to 4 Units

Listing Status Coming Soon

Purchase Type For Sale

Municipality Chelsea

MLS Listing ID 25017653

Year Built 1920

Annual Tax Amount $7,205

Tax Year 2024

Lot Size 0.397 Acres

Acres 0.4

Lot Dimensions 66x265

Property Sub-Type 2 to 4 Units

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 for turnkey passive income on this charming FULLY OCCUPIED property! These don't come around often, so schedule your showing today. 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 Ann Arbor/Washtenaw - A

Direction E of Main Street, South of Dexter-Chelsea

Rooms

Basement Full

Interior

Heating Forced Air

Cooling None

Fireplaces Number 1

Laundry Common Area, In Basement

Exterior

Parking Features Concrete, Driveway, Paved

Utilities Available Natural Gas Connected, Electricity Connected, Storm Sewer

View Y/N No

Roof Type Composition

Street Surface Paved

Total Parking Spaces 8

Building

Lot Description Sidewalk

Structure Type Aluminum Siding

New Construction No

Schools

School District Chelsea

Others

Tax ID 06-07-07-330-004

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by @properties Christie's Int'lAA

Kami Kennedy

Agent | License ID: ric.h18672

+1(616) 856-4188

Kami Kennedy

413 Madison Street Chelsea, MI 48118

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

GET MORE INFORMATION

Go tour this home

413 Madison Street