UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Municipality Parchment City
MLS Listing ID 25039540
Year Built 1950
Annual Tax Amount $27,194
Tax Year 2024
Lot Size 0.747 Acres
Acres 0.75
Lot Dimensions 249x134
Property Sub-Type 5+ Units
Source Michigan Regional Information Center (MichRIC)
Property Description
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.
Location
State MI
County Kalamazoo
Area Greater Kalamazoo - K
Direction North on Riverview Drive, turn left on Thomas street.
Rooms
Basement Full
Interior
Heating Hot Water
Cooling None
Fireplaces Number 4
Laundry Common Area
Exterior
Parking Features Paved
Utilities Available Natural Gas Available, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
View Y/N No
Roof Type Composition
Street Surface Paved
Total Parking Spaces 25
Building
Lot Description Sidewalk, Corner Lot
Sewer Public Sewer
Structure Type Brick
New Construction No
Schools
School District Parchment
Others
Tax ID 06-02-110-081
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Nick Schweihofer
Team Leader, Broker | License ID: 6506047709
Team Leader, Broker License ID: 6506047709
REVIEWS
- Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!Gordon L
- Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!Emily Rzeszutko
- Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!Kayla Kocal