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Chelsea,MI 48118
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