This 16-unit multi-family property, located just outside Kalamazoo in the thriving Parchment community, presents a prime opportunity for cash flow and long-term growth. The property features 11 two-bedroom, one-bath units, and 5 one-bedroom, one-bath units, all fully renovated along with the common areas. Currently, 15 units are tenant-occupied, and the final unit is in the process of being leased, with several applications submitted. Recent improvements include a resurfaced parking lot, new roof, boiler, and AC units, ensuring low maintenance and minimal future capital expenditures. Conveniently located near Parchment High School, Elementary School, and major manufacturing companies, the property offers easy access to Gull Road and nearby shopping.
Parchment is located in Michigan. Parchment, Michigan has a population of 1,884. Parchment is less family-centric than the surrounding county with 28.3% of the households containing married families with children. The county average for households married with children is 30.73%.
The median household income in Parchment, Michigan is $56,300. The median household income for the surrounding county is $61,739 compared to the national median of $69,021. The median age of people living in Parchment is 34.6 years.
The average high temperature in July is 83.7 degrees, with an average low temperature in January of 17.1 degrees. The average rainfall is approximately 36.3 inches per year, with 62 inches of snow per year.
