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503 N Riverview Drive, 
Parchment, MI 49004

$1,700,000


Bed


Bath


-

Sq Ft


Multi-Family

Active

Listed by

Adam Atwood

Amanda M Atwood

Five Star Real Estate

269-377-4589

Last updated:

August 28, 2025, 03:11 PM

MLS#

25039540

Source:

MI GRAR

About This Home

503 N Riverview Drive

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.

Home Facts

Multi-Family

Built in 1950

Price Summary

1,700,000

MLS #:

25039540

Last Updated:

August 28, 2025, 03:11 PM

Added:

22 day(s) ago


Structure

Structure

Year Built:

1950


Lot

Lot Size (Sq. Ft):

32,539


Finances & Disclosures

Finances

Price:

$1,700,000

Source:MI GRAR
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