413 Madison Street, Chelsea, MI 48118

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$550,000

bedrooms

bathrooms

square feet

Acreage

0.4

Open Houses

year built

1920

Full Baths

Half Baths

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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
Subdivision	-
County	Washtenaw
Elementary School	-
Middle School	-
High School	-

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Open houses

None scheduled.

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MLS number: 25017653

Listing agent: Giselle Gaitan

Listing broker: @Propertieschristie'S Int'L Aa (734) 237-6901

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Last update: Sunday, May 4 2025 at 8:12 p.m. EDT

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