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503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
VIEW PHOTOS
$1,700,000

503 N Riverview Drive

3 Beds 12,480 Sq.Ft.

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.

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Location

503 N Riverview Drive, Parchment City, MI 49004

Status

For Sale
Adam  Atwood

Adam Atwood

TITLE

Team Leader

Property Amenities

Interior
Laundry room Common Area
Total Bedrooms: 3
Other Interior Features Storage
Area & Lot
Total area 12,480 Sq.Ft.
Lot Area 0.75 Acres
Living area 12,480 Sq.Ft.
MLS® ID 66025039540
Year Built 1950
School District Parchment
Type Multi-Family
Status For Sale
Exterior
Heat type Hot Water, Natural Gas
Water Source Public
Sewer Public Sewer
Parking Paved, Carport
Lot Features Corner Lot
Roof Composition
Utilities Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Sewer Available
Finance
Sales Price $1,700,000
Real Estate Tax $27,194 yearly
503 N Riverview Drive
503 N Riverview Drive
503 N Riverview Drive
"Located in a prime rental market with excellent occupancy history."

— Atwood Properties Group

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Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Thank you for your interest in 503 N Riverview Drive, Parchment City, MI 49004. We are reviewing your request and will be in touch shortly!

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