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USAMIParchment503 N Riverview Dr
503 N Riverview Dr, Home with 3 bedrooms, 2 bathrooms and 25 parking in Parchment MI | Image 1
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$1,700,000

503 N Riverview Dr, Parchment, MI

Real Estate

For Sale

$--,---,---
3225
  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes $27,194
Days Active 38
Lot Size 
Approx. Age 1950
MLS® Number 25039540

Property Address: 

Average square foot calculated using Size range provided by listing agent.

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.Show Description
MLS® Number25039540
Laundry LevelCommon Area
Central VacNo
FireplaceNo
Acreage0.75
Exterior
GarageNo
Approx. Age1950
BasementFull
DrivewayPaved
Garage Spaces
HeatHot Water
A/CNone
Heating Fuel

Extras

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