BEDS0
BATHS
MLS#25039540
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLParchment
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 theres 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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Full
Cooling: None
Heating: Hot Water
Lot Size: 0.75 Acres
Roof Type: Composition
Taxes: $27,194
Year Built: 1950
Feature Descriptions
Days on Site: 217
Exterior: Brick
Laundry: Common Area
Lot: Sidewalk, Corner Lot
Lot Dimensions: 249x134
Owner Pays: Trash Collection, Water, Sewer, Gas
Parcel Number: 06-02-110-081
Parking: Paved
Parking Total: 25
Road Surface: Paved
Sewer: Public Sewer
Sub Type: 5+ Units
Tenant Pays: Electric, Gas
Units: 2
Utilities: Natural Gas Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
Local Schools
School District: Parchment
Listed By / Shown By
Listed By
Agency Name: Five Star Real Estate
Agency Phone: 269-377-4589
Agent Name: Adam Atwood
Shown By
Agent Name: Darrell Blausey
Agent Phone: (419) 351-1525
Agency Title: Key Realty
 | The property comes from the Member MLS's of the Michigan Regional Information Center, LLC (MichRIC). Copyright 2026 Michigan Regional Information Center, LLC (MichRIC). All rights reserved. Information deemed reliable, but not guaranteed. Data Last Updated 03/12/2026. |
Estimate Your Payment
Estimated Payment
$ 12,271.32 per month $9,509.32 Principal & Interest $2,266.17 Property Tax $495.83 Homeowner's Insurance
503 N Riverview Drive | MLS# 25039540
This multi-family property located at 503 N Riverview Drive, Parchment, MI 49004 is currently listed for sale with an asking price of $1,700,000. N Riverview Drive is located within the Parchment school district. Search Parchment real estate on www.darrellrealestate.com today.