503 N Riverview DriveParchment City, MI 49004
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.
| 4 weeks ago | Listing first seen on site | |
| 4 weeks ago | Listing updated with changes from the MLS® |
IDX provided courtesy of Realcomp II Ltd. via GreaterKalamazooAssociationofREALTORS. Copyright © 2025 Realcomp II Ltd. Shareholders.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing and that the data is deemed reliable but not guaranteed accurate by the MLS.
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.