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$1,700,000
3
beds
2
baths
12,480
square ft

503 N Riverview Drive
Parchment, Michigan 49004

Active / MLS #66025039540 / Multiple Unit (2-4) / Parchment
Listing information updated 12/3/2025 at 10:45am
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.
Exterior Type:
Brick
Basement:
Full
Beds Above Grade:
3
Heating System:
Hot Water, Natural Gas
Pool:
No
Age:
75 Years
Roof Type:
Composition
Parking Type:
Paved,Carport
Parking Spaces:
25
Water Front:
No
Square Feet:
12,480
Lot Size:
32539 SquareFeet
Acreage:
0.75
Tax Amount:
$27,194
Tax Year:
N/A
Zip Code:
49004
City:
Parchment
County:
Kalamazoo
School District(s):
Parchment
Elementary School:
N/A
Middle School:
N/A
High School:
N/A

Listing Office: Five Star Real Estate

Listing Office Phone: 269.377.4589

Disclaimer: IDX provided courtesy of Realcomp II Ltd. via site owner and the originating MLS listed above, © 2025 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

$238,276
Average Sale Price
21
Average Days On The Market
96%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 503 N Riverview Drive, Parchment, MI 49004

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503 N Riverview Drive, Parchment, MI 49004 is a multiple unit (2-4) currently listed at $1,700,000. 503 N Riverview Drive features 3 Beds, 2 Baths. This multiple unit (2-4) has been listed on @properties REMI Christie's International Real Estate since August 6th, 2025 and was built in 1950.