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Chelsea,MI 48118
Key Details
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Active Under Contract
Purchase Type For Sale
Municipality Chelsea
Subdivision J M Congdons Add
MLS Listing ID 25050083
Year Built 1900
Annual Tax Amount $5,444
Tax Year 2024
Lot Size 8,696 Sqft
Acres 0.2
Lot Dimensions 66X132
Property Sub-Type 2 to 4 Units
Source Michigan Regional Information Center (MichRIC)
Property Description
Welcome to Chelsea, a charming and growing community with small-town appeal and big potential. This well-maintained property features three fully occupied rental units:2-bedroom unit currently renting for $1,170/month-1-bedroom unit currently renting for $1,025/month,Efficiency unit currently renting for $850/month. That's a total of $3,025 in monthly income. The owner pays for water and heat.All tenants are on yearly leases, providing stability and consistency for the next owner. The property has been owned by the same landlord for over 20 years, a testament to its reliability and desirability. Recent updates include a new roof and gutters (2025), with the furnace and water heater just 7 years old.This property offers flexibility: keep the rents steady or adjust to current market rates for even greater returns. Priced at $375,000, it's a great opportunity for an investor looking to grow their portfolio or for someone ready to step into property ownership for the first time.
Location
State MI
County Washtenaw
Area Ann Arbor/Washtenaw - A
Rooms
Basement Michigan Basement
Interior
Heating Forced Air
Cooling None
Laundry Common Area,Gas Dryer Hookup,In Basement,Washer Hookup
Exterior
Parking Features Driveway,Gravel
Utilities Available Phone Available,Natural Gas Available,Electricity Available,Cable Available,Phone Connected
View Y/N No
Roof Type Other
Street Surface Paved
Total Parking Spaces 4
Building
Lot Description Level,Sidewalk
Sewer Public Sewer
Structure Type Aluminum Siding
New Construction No
Schools
Elementary Schools South Elementary School
Middle Schools Beach Middle School
High Schools Chelsea High School
School District Chelsea
Others
Tax ID 06-06-12-330-009
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional