MI > Parchment
Parchment, MI 49004,503 N Riverview Drive
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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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Additional details
Larry Else

Larry Else

+1(313) 315-3215
$ 1,700,000
Est. payment /mo
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Active

503 N Riverview Drive Parchment, MI 49004

2 Beds

0.75 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 66025039540

Bedrooms 2

Year Built 1950

Annual Tax Amount $27,194

Lot Size 0.750 Acres

Acres 0.75

Lot Dimensions 249x134

Source Greater Kalamazoo Association of REALTORS®

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

Direction North on Riverview Drive, turn left on Thomas street.

Interior

Interior Features Other, Laundry Facility, Cable Available

Heating Hot Water

Fireplace no

Heat Source Natural Gas

Laundry 1

Exterior

Garage Spaces 25.0

Roof Type Composition

Road Frontage Paved, Pub. Sidewalk

Garage no

Private Pool No

Building

Sewer Public Sewer (Sewer-Sanitary), Sewer at Street

Water Public (Municipal)

Structure Type Brick

Schools

School District Parchment

Others

Pets Allowed Yes

Tax ID 0602110081

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Adam Atwood of Five Star Real Estate
agent

Larry Else

Broker | License ID: 386964

+1(313) 315-3215

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