413 Madison Street

Chelsea, Michigan 48118

  • 5 Bed(s)
  • 0 Bath(s)
  • 0 Sqft
  • 0.4
    Acre(Lot)
$550,000

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.

  • Property Type

    Multifamily

  • County

    Washtenaw

  • Style

    Multifamily

  • AD ID

    49498947

Sell a home like this and save $32,501 Find Out How

Statistics Bottom Ads 1
Google Ads

Property Details

  • Interior Features

    • Other,Laundry Facility
    • Roof : Composition

    Heating & Cooling

    • Heating: Forced Air
    • Heating Fuel: Natural Gas

  • Building Information

    • Year Built: 1920
    • Total Units: 4
    • Roof: Composition

    Utility Features

    • Sewer: Public Sewer (Sewer-Sanitary),Storm Drain

    Water

    • Public (Municipal)

  • Lot Information

    • Lot Size: 0.40
    • Dimensions: 66x265

    Property Information

    • Financing: Cash,Conventional

  • Listing Price Information

    • Original List Price: $550,000

    Listing Information

    • Possession: Subject To Tenant Rights
    • Legal Description: *OLD SID - GC 07-570-033-00 C.V. 1L-19 COM AT NW COR OF LUCY E. GATES 2ND ADDITION TO THE VILLAGE OF CHELSEA, A RECORDED PLAT, TH S 81 DEG E25.06 FT IN N LINE OF SAID PLAT, TH N 533.24 FT IN THE E LINE OF MADISON STREET FORA PL OF BEG, TH S 84 DEG E 4 CHS, TH N 1 CH, TH N 84 DEG W 4 CHS TH S 1 CH, TO PLOF BEG BEING A PART OF SW FRL 1/4 SEC. 7 T2S R4E.

  • Tax Information

    • Annual Tax: $7,206
    • Parcel Number: 060707330004

    Possession

    • Subject To Tenant Rights

    Legal Information

    • Legal Description: Section: *OLD SID - GC 07-570-033-00 C.V. 1L-19 COM AT NW COR OF LUCY E. GATES 2ND ADDITION TO THE VILLAGE OF CHELSEA, A RECORDED PLAT, TH S 81 DEG E25.06 FT IN N LINE OF SAID PLAT, TH N 533.24 FT IN THE E LINE OF MADISON STREET FORA PL OF BEG, TH S 84 DEG E 4 CHS, TH N 1 CH, TH N 84 DEG W 4 CHS TH S 1 CH, TO PLOF BEG BEING A PART OF SW FRL 1/4 SEC. 7 T2S R4E.

  • Parking Information

    • Parking: 8

    Multi-Unit Information

    • Road Frontage: Paved,Pub. Sidewalk

    Unit 1 Information

    • # of Bedrooms: 3

    Unit 2 Information

    • # of Bedrooms: 1

  • Utility Information

    • Water:Public (Municipal)
    • Sewer:Public Sewer (Sewer-Sanitary),Storm Drain
Statistics Bottom Ads 2
Google Ads
Sidebar Ads 1
Google Sidebar Ads
Learn More about this Property
Sidebar Ads 2
Google Sidebar Ads
Sidebar Ads 2
Google Sidebar Ads

Disclosure: The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX provided courtesy of Realcomp II Ltd., via ByOwner.com and REALCOMP, Copyright 2025 Realcomp II Ltd. Shareholders. REALTOR (R) licensed in the state of Michigan.

BuyOwner last updated this listing 05/29/2025 @ 03:17

  • MLS: 625676101
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Realcomp II Ltd

is a Multifamily, with 5 bedrooms which is recently sold, it has 0 sqft, 0 sized lot, and Garage,Paved parking. are nearby neighborhoods.