SoldJun 12, 2025

Listed by Giselle Gaitan from @propertiesChristie's Int'l AA

Bought with Brian Brickley

Source: Multiple Listing Service MiRealSource #70464318

413 Madison St, Chelsea, MI, 48118

$562,000

2309 sq. ft.
0.4 ac.

MultiFam

11 days on the market

Sold: Jun 12, 2025

What's around 413 Madison St

About this property

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.

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