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Parchment, MI Multifamily Home for Sale

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    $1,600,000

    1710 E G Ave, Parchment, MI 49004

    Rare 16 unit multi-family property offering a fantastic investment opportunity. Current gross rents of around $15,000 a month. Market rents are around $18,000 a month, so some room for value add. There are 11 units with 2 bedroom and 1 bath and 5 units with 1bedroom, 1 bath. This property has an assumable mortgage at an interest rate well below current market rates providing a great cash flow

    Connor Anderson MOXIE Real Estate + Development

    1710 E G Ave, Parchment, MI 49004

Why Live in Parchment

Parchment, Michigan, named after the historic Kalamazoo Vegetable Parchment Company, is a small community with a population of around 2,000. The city is known for its outdoor activities and a "small hometown feel," with residents enjoying proximity to the 40-acre Kindleberger Park and the Kalamazoo River, which is popular for kayaking, paddleboarding, and fishing. The city features a variety of pre-World War II homes, including Cape Cod, ranch-style, and Colonial Revival houses, many of which are surrounded by mature trees. Kindleberger Park, often referred to as the "Jewel of Parchment," offers amenities such as a playground, tennis courts, a stage, and baseball fields, along with winding trails and a gazebo. Nearby, the 186-acre Spring Valley Park and the 160-acre Markin Glen Park provide additional attractions like disc golf, nature trails, and water sports. Dining options in Parchment include Geno's Golden Pizza & Pub, Buen Provecho Mexican Restaurant, and Spad’s Twisters Soft Serve Ice Cream, with more choices available just 4 miles away in downtown Kalamazoo. The Parchment School District serves the community, with Northwood Elementary being highly rated. Residents benefit from access to Kalamazoo’s Metro buses and nearby highways, with U.S. Highway 131 leading to Grand Rapids, about 50 miles north. The area experiences significant snowfall annually and receives its drinking water from Kalamazoo following a past contamination issue.

Home Trends in Parchment, MI

Housing Trends

Median Sale Price
$238,000
Median Single Family Sale Price
$249,900
Average Price Per Sq Ft
$145
Number of Homes for Sale
2
Last 12 months Home Sales
18
Months of Supply
1.30
Median List Price
$259,900
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
7%
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