5582 S Ridge RD Madison, OH 44057
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5219929
Bedrooms 8
Full Baths 4
HOA Y/N No
Year Built 1850
Annual Tax Amount $3,382
Tax Year 2025
Lot Size 8.716 Acres
Acres 8.7159
Property Sub-Type Quadruplex
Property Description
The triplex sits on 6.2172 acres and consists of three separate 2-bedroom, 1-bath units, each with its own private entrance. It is considered a Century Home. Unit 1 features private laundry, newer windows, and an enclosed porch. Units 2 and 3 share a common laundry area. Current rents include Unit 3 at $660/month and Unit 2 at $680/month, providing immediate income with additional upside potential.
The separate 2-bedroom, 1-bath ranch home is situated on 2.4987 acres and includes its own septic system, creating excellent flexibility for owner occupancy, additional rental income, or multigenerational living. Current rent at $825/month.
Outdoor improvements are extensive and include two poultry barns, a large two-story barn, a 3-car garage, a lean-to, and an additional barn equipped with 220-volt electric service and multiple outlets, making it ideal for a workshop, equipment storage, farming operations, small business use, or recreational hobbies. One barn is currently leased for storage at $265/month, adding another income source.
Whether you're looking for a cash-flowing investment property, hobby farm, agricultural property, homestead, rental portfolio expansion, or income-producing acreage, this versatile property offers incredible potential. Opportunities like this are rare-schedule your private showing today!
Location
State OH
County Lake
Community Stable(S), Lake, Medical Service, Park, Restaurant, Shopping
Rooms
Basement French Drain, Interior Entry, Unfinished, Walk-Out Access
Interior
Interior Features Built-in Features, Ceiling Fan(s), High Ceilings, High Speed Internet, Primary Downstairs, Storage
Heating Fireplace(s), Hot Water, Radiator(s), Steam
Cooling Ceiling Fan(s)
Fireplaces Type Wood Burning
Fireplace Yes
Laundry Inside, Multiple Locations
Exterior
Exterior Feature Storage
Parking Features Additional Parking, Boat, Common, Detached, Garage
Garage Spaces 3.0
Garage Description 3.0
Community Features Stable(s), Lake, Medical Service, Park, Restaurant, Shopping
Water Access Desc See Remarks,Shared Well
Roof Type Asphalt,Shingle
Private Pool No
Building
Lot Description Agricultural, Subdivided
Foundation Slab
Sewer Septic Tank
Water See Remarks, Shared Well
Level or Stories Two
Schools
School District Madison Lsd Lake- 4303
Others
Tax ID 01-A-011-0-00-001-0
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Conventional, FHA 203(b), USDA Loan, VA Loan
Listing Terms Cash, Conventional, FHA 203(b), USDA Loan, VA Loan
Special Listing Condition Estate
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