MI > Parchment > Mi
Parchment, MI 49004,503 N Riverview Drive
Parchment, MI 49004,503 N Riverview Drive
Parchment, MI 49004,503 N Riverview Drive
Parchment, MI 49004,503 N Riverview Drive
Parchment, MI 49004,503 N Riverview Drive
Parchment, MI 49004,503 N Riverview Drive
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David Godin

David Godin

+1(586) 416-0600
$ 1,700,000
Est. payment | /mo

12,480 SqFt

Save
$ 1,700,000
Est. payment | /mo
Save

12,480 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 12,480 sqft

Price per Sqft $136

Subdivision Mi

MLS Listing ID 70486203

Year Built 1950

Annual Tax Amount $27,194

Tax Year 2024

Lot Size 0.750 Acres

Acres 0.75

Lot Dimensions 249x134

Property Sub-Type Multi-Family

Property Description

Exceptional 24-unit apartment complex featuring 23 spacious 1-bedroom units and 1 2-bedroom unit across four solid brick, 3-story buildings (6 units per building). Located in a prime rental market with excellent occupancy history and long-term tenant stability. Property includes 25 total parking spaces (carport and lot parking) and two well-maintained coin laundry rooms for added convenience and revenue.Total monthly revenue is currently near $20,000.Many units have been tastefully updated, and there's strong potential for value-add by converting up to 19 units into 2-bedrooms. Tenants pay electric and cooking gas, while owner covers heat, water/sewer, trash, and lawn/plow services. Low vacancy, strong returns, and clear upside make this a rare multifamily opportunity.

Location

State MI

County Kalamazoo

Area Parchment (39025)

Interior

Heating Hot Water

Cooling None

Exterior

Exterior Feature Brick

Parking Features Carport

Amenities Available Laundry Facility

Building

Lot Description Sidewalks

Foundation Basement

Structure Type Brick

Schools

School District Parchment School District

Others

Energy Description Natural Gas

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Five Star Real Estate
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Find out why customers are choosing LPT Realty to meet their real estate needs

+1(586) 416-0600

davidgodin@hotmail.com

101 W Big Beaver Rd, Troy, MI, 48084, USA

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503 N Riverview Drive