MI > Parchment
Parchment, MI 49004,503 N Riverview DR
Parchment, MI 49004,503 N Riverview DR,Video Tour
Parchment, MI 49004,503 N Riverview DR
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$1,700,000
Est. payment /mo
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12,480 SqFt
Active

503 N Riverview DR Parchment, MI 49004

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Tue
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31
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2026
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Amy Greenwood

Amy Greenwood

Motus Real Estate

+1(248) 318-8542

UPDATED:

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Sale

Square Footage 12,480 sqft

Price per Sqft $136

MLS Listing ID 66025039540

Year Built 1950

Lot Size 0.750 Acres

Acres 0.75

Property Sub-Type MultiFamily

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 Area39063Parchment

Rooms

Basement Full

Interior

Interior Features Storage

Heating Hot Water, Natural Gas

Fireplace No

Laundry CommonArea

Exterior

Parking Features Paved, Carport

Community Features Sidewalks

Utilities Available CableConnected, ElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected

View Y/N No

Roof Type Composition

Building

Lot Description CornerLot

Sewer Public Sewer, Sewer At Street

Water Public

New Construction No

Schools

High Schools Parchment

School District Parchment

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://my.matterport.com/show/?m=MopZj3yixJ9

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

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Amy Greenwood

Amy Greenwood

Agent | License ID: 6501404660

+1(248) 318-8542

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