Well-Maintained Multifamily Income
21857 Le Fever Avenue Warren, MI 48091
21857 Le Fever Avenue, Warren, MI, 48091
$225,000
For Sale
$225,000
MULTI_FAMILY - Other - Warren, MI
Property Size1,418 SF
Lot Size0.23 Acres
Price / SF$158.67
Days on Market176
Property Features for 21857 Le Fever Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 1
- Pets allowed
- Call
- Interior features
- Smoke Alarm
- Exterior features
- Awning/Overhang(s)
- Standard status
- Active
- APN
- 1332153035
- Size
- 1,418 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Description
- SUPERVISORS PLAT OF HIGHLAND FARMS LOT 43 EXC S 102.0 FT. L19 P32
- Tax Annual Amount
- 5954
Utilities
- Heating system
- Radiant, Baseboard
- Cooling system
- Window Unit(s), Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1942
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Vinyl
- Roof type
- Asphalt
- Architectural style
- Other
Listing agency
KW Domain
(248) 590-0800
Listed by
Melanie S Bishop · License #6501217402
(248) 590-0800
Added: Jan 27 Updated: Jul 11 at 4:33AM Checked: Jul 22 at 7:06PM
MLS# 20261002542
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained two-unit multifamily income property presents an opportunity for investors. The property features current long-term tenants. The lower unit includes two bedrooms and one full bath, with hardwood floors and tile flooring in the kitchen. An open floor plan enhances the living space, and the kitchen has a nook area. The upper unit has been updated with newer flooring and also includes two bedrooms and one full bath. Both units are spacious and functional. Recent updates to the property include flooring, paint, windows, boiler, hot water heaters, and the roof. The property is located in Warren, MI, and the lot size is 0.23 acres. The property size is 1418 square feet.
Key Highlights
- Two‑unit multifamily property built in 1942 with long‑term tenants in place
- Lower unit features 2 bedrooms, 1 full bath, hardwood floors, and tile flooring in the kitchen
- Lower unit includes an open floor plan and a generously sized kitchen with a cozy nook area
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.3k | $15.00 |
| − Vacancy | −$1.4k | −$0.98 |
| EGI | $19.9k | $14.03 |
| − OpEx | −$6.0k | −$4.21 |
| NOI | $13.9k | $9.82 |
1,418 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$198.9K
$174.0K – $232.0K
NOI $13,921 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$185.1K
$162.0K – $216.0K
NOI $12,960 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit multifamily property with long-term tenants and recent updates.
Where is this duplex located?
The property is located at 21857 Le Fever Avenue Warren, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit multifamily property built in 1942 with long‑term tenants in place; Lower unit features 2 bedrooms, 1 full bath, hardwood floors, and tile flooring in the kitchen; Lower unit includes an open floor plan and a generously sized kitchen with a cozy nook area
