MI
Kalamazoo
Parchment City
49004
503 N Riverview Drive
503 N Riverview Drive, Parchment City, MI 49004
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Listing Type
Multi Family
Listing Status
Active
28
$1,700,000

Home Details for 503 N Riverview Drive

Price
$1,700,000
Type
Residential Income
Bedrooms
3
Bathrooms
Square feet
NaN
Year built
1950
Lot size acres
0.75
County
Kalamazoo
Garage
Basement
Full
Days on site
104
MLS Listing#
66025039540
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 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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Property Features
  • Utilities
    • Cable Connected
    • Electricity Connected
    • Natural Gas Connected
    • Phone Connected
    • Sewer Connected
    • Sewer Available
  • Heating Information
    • Hot Water
    • Natural Gas
  • Parking
    • Paved
    • Carport
  • Water Features
    • Public
  • House Interior
    • Storage
  • Basement
    • Full
Listing Courtesy: Five Star Real Estate - 269-377-4589
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Median Listing Price
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Median Square Feet
Market statistics compiled from data from Michigan Regional Information Center.
EXIT AHEAD REALTY
1542 N. Leroy, Suite 2A, Fenton, MI 48430
Office
810 347 5354
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