Parchment Manor – INCOME PROPERTY ORGANIZATION

Parchment Manor

Available | $2,600,000

133 -143 N. Riverview Drive
Parchment, Michigan 49004
Property Type: Multifamily
Number of Units: 41
Price Per Unit: $63,415
Average Square Feet: 614
Expense to Income Ratio: 52.55%
Debt Service Coverage: 1.39
Year One ROI: 5.90%

Listing Agent: Greg Coulter

Location

EXECUTIVE SUMMARY:

This complex boasts an attractive mix of studio, one-bedroom, and two-bedroom apartments ranging in size from 513 to 725 square feet. Parchment Manor was built in 1914 & 1936 and has been well maintained over the years. Currently it is operating at 97.6% physical occupancy and has maintained this level of performance for many years, requiring only minimal management oversight from ownership.

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, J.D.

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

Associate Broker, Michigan | Executive Assistant

Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio