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Chelsea,MI 48118
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 1,548 sqft
Price per Sqft $242
Subdivision J M Congdons Add
MLS Listing ID 81025050083
Year Built 1900
Property Sub-Type MultiFamily
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 Area04062Chelsea
Interior
Heating ForcedAir, NaturalGas
Laundry CommonArea, GasDryerHookup, InBasement, WasherHookup
Exterior
Parking Features Gravel
Community Features Sidewalks
Utilities Available PhoneAvailable, PhoneConnected, SewerConnected
View Y/N No
Roof Type Other
Building
Lot Description Level
Foundation MichiganBasement
Sewer PublicSewer, SewerAtStreet
Water Public
Schools
School District Chelsea
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard