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503 N Riverview, Parchment, MI 49004

Parchment
Local realty services provided by:CENTURY 21 Realty North
503 N Riverview,Parchment, MI 49004
$1,700,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: adam atwood, amanda atwood
Office: five star real estate
MLS#:70486203
Source:MI_REALSOURCE

Price summary

  • Price:$1,700,000

About this home

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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Home facts

  • Year built:1950
  • Listing ID #:70486203
  • Added:218 day(s) ago
  • Updated:March 11, 2026 at 10:39 AM

Heating and cooling

  • Heating:Hot Water

Structure and exterior

  • Year built:1950
  • Lot area:0.75 Acres
  • Lot Features:Sidewalks
  • Construction Materials:Brick
  • Foundation Description:Basement

Finances and disclosures

  • Price:$1,700,000
  • Tax amount:$27,194

Parking

  • Parking description:Carport

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