503 N Riverview Drive, Parchment, MI 49004

Local realty services provided by:Better Homes and Gardens Real Estate Connections
503 N Riverview Drive,Parchment, MI 49004
$1,700,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: adam atwood, amanda m atwood
Office: five star real estate
MLS#:25039540
Source:MI_GRAR

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.

Contact an agent

contact an agent

Yes, I would like more information. Please use and/or share my information with a BHGRE®  affiliated agent to contact me about my real estate needs. By clicking Send message, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a BHGRE®  affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (CENTURY 21® , Coldwell Banker® , Corcoran® , ERA® , Sotheby's International Realty® ). I acknowledge that I have read and agree to theTerms of useandPrivacy notice

Home facts

  • Year built:1950
  • Listing ID #:25039540
  • Added:191 day(s) ago
  • Updated:February 14, 2026 at 04:09 PM

Heating and cooling

  • Heating:Hot Water

Structure and exterior

  • Year built:1950
  • Lot area:0.75 Acres

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$1,700,000
  • Tax amount:$27,194 (2024)

New listings near 503 N Riverview Drive