$1,700,000
FOR SALE503 N Riverview Drive, Parchment, MI 49004
Parchment, Mi, 49004
MLS #25039540
Subdivision: -
Building: -
- Beds
-/- Baths
- sqft
$ - /sqft
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.
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Listing Courtesy of: Five Star Real Estate
