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About the Listing 108707 - 543859,715951
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.
Listing Highlights
Status
Active
Days on Site
35
Property Type
Multi-Family
MLS ®
70486203
Year Built
1950
Total Square Footage
12,480
Lot/Acreage
0.75
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Hot Water
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 12480
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Sidewalks
- Garage Capacity: N/A
- Lot Dimensions: 249x134
- Roof:
- Others:
- Sewer:
- Parking Features: Carport
Financial Details
- Tax Amount: $27,194
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Questions About..
503 N Riverview Parchment, MI 49004
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