Parchment Manor – INCOME PROPERTY ORGANIZATION

Parchment Manor EDIT

Parchment Manor Apartments

Available | $2,600,000

133-143 N Riverview Drive
Parchment, MI 49004
Property Type: Multifamily
Number of Units: 41
Price Per Unit: $63,415
Average Square Feet: 614
Gross Rent Multiplier: 6.95
Debt Service Coverage: 1.35
Year One ROI: 7.31%

Listing Agent: Greg Coulter

Location

EXECUTIVE SUMMARY:

This complex boasts an attractive mix of studio, one-bedroom,and two-bedroom apartment homes ranging in size from 513 to 725 square feet. Parchment Manor was built in 1914 and 1936 and has been well maintained over the years. Currently Parchment Manor is operating at 88% physical occupancy and for many years has maintained this level of performance.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, Esq.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio