Solid brick 8-unit apartment building, fully occupied with on-site management. Each unit features 1 bed, 1 bath, private storage, and outdoor parking. Coin laundry for tenant convenience. Strong rental history and low-maintenance design make this a solid, income-producing investment opportunity.
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.
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.
