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

503 N Riverview Drive

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, MI 49004

Status

For Sale
Adam  Atwood

Adam Atwood

TITLE

Team Leader

Amanda Atwood

Amanda Atwood

TITLE

Team Member

Property Amenities

Interior
Laundry room Common Area
Area & Lot
Lot Area 0.75 Acres
MLS® ID 25039540
Year Built 1950
School District Parchment
Type Other
Status For Sale
Exterior
Air conditioning None
Heat type Hot Water
Sewer Public Sewer
Parking Paved
Lot Features Sidewalk, Corner Lot
Roof Composition
Utilities Natural Gas Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
Finance
Sales Price $1,700,000
Real Estate Tax $27,194 yearly
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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, MI 49004. We are reviewing your request and will be in touch shortly!

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