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$1,700,000

  • For Sale
  • Active
  • Single Family
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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.

Full Property Details for 503 N Riverview Dr

General

  • Price: $1,700,000
  • Taxes: $27,194
  • Status: Active
  • Type: Single Family
  • Source: SWMRIC_MLS
  • MLS ID: 25039540
  • Updated: 12/3/2025
  • Added to Site: 203 day(s) ago

Rooms

Other Rooms

  • Laundry: Common Area

Parking

  • Total Spaces: 25
  • Parking Features: Paved

Location

  • Area: Greater Kalamazoo - K
  • County: Kalamazoo
  • Cross Streets: Thomas and W Glenguile Ave
  • Driving Directions: North on Riverview Drive, turn left on Thomas street.

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Hot Water

Utilities

  • Sewer: Public Sewer
  • Utility Description: Natural Gas Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected

Structural Information

  • # Buildings: 4
  • Construction: Brick
  • Basement: Yes
  • Roof: Composition
  • Year Built: 1950

Lot Features

  • Lot Size (Acres): 0.75
  • Lot Size (Sq. Ft.): 32,539
  • Lot Dimensions: 249 x 134
  • Frontage: Paved
  • Lot Features: Sidewalk, Corner Lot

Financial Considerations

  • Tax Amount: $27,194.3
  • Terms: Cash, Conventional
  • Landlord Pays: Trash Collection, Water, Sewer, Gas
  • Tenant Pays: Electricity, Gas

Disclosures and Reports

  • Legal Description: PARCHMENT ADDITION N 26.4 FT LOT 9 & LOTS 10, 11, 12, 13, & 14 BLK 2 *
  • Property ID: 06-02-110-081

Listed by Five Star Real Estate, Adam Atwood and Five Star Real Estate, Amanda M Atwood

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Listing agents

— 503 N Riverview Dr —

  • Adam Atwood

    Five Star Real Estate

  • Amanda M Atwood

    Five Star Real Estate

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

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NMLS#: 1598647

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with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 503 N Riverview Dr

School District:Parchment School District
NameGradesDistance
Parchment High School
1916 E G Ave, Kalamazoo, MI 49004
9-120.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 503 N Riverview Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/06/2025
Listed
$1,700,000
36%
MLS
3/28/2022
Sold
$1,250,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 503 N Riverview Dr

Year
Property Taxes
Change
Tax Assessment
Change
2024
$26,148
93%
$363,100
-2%
2019
$13,571
—
$369,700
4%
2019
$13,571
-9%
$354,800
25%
2022
$14,991
6%
$283,800
6%
2020
$14,123
—
$267,600
8%
2020
$14,123
4%
$248,800
27%
2019
$13,571
14%
$195,400
11%
2018
$11,896
100%
$175,600
3%
2014
100%
$170,100
2%
2014
—
$166,257
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Five Star Real Estate, Adam Atwood and Five Star Real Estate, Amanda M Atwood

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503 N Riverview Drive, Parchment, MI 49004 (MLS# 25039540) is a Single Family property with 0 bedrooms and 0 full bathrooms. 503 N Riverview Drive is currently listed for $1,700,000 and was received on August 06, 2025. Want to learn more about 503 N Riverview Drive? Do you have questions about finding other Single Family real estate for sale in Parchment? You can browse all Parchment real estate or contact a Coldwell Banker agent to request more information.

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