23736 Sherwood Avenue, Warren, MI 48091
Two-building residential income setup with separate units and in-unit laundry on one building.
- Added:
- Jun 25, 2026
- Days on Market:
- 12
- Last Refresh:
- Jul 4 at 3:53 am
Property Features for 23736 Sherwood Avenue
General Information
- Standard status
- Active
- Size
- 2,536 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1950
Listing office Coldwell Banker Professionals (734) 818-0546
Listing date Jun 25, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Professionals
HighLights
- Two‑building residential income property with separate units on one site
- 2370 Sherwood has an upper and lower unit with in‑unit laundry
- Rent on 2370 Sherwood: $1,000/month upper unit and $1,500/month lower unit
- 736 apartment building has 10 rooms with 2‑bedroom units rented at $450–$500 per room
- 736 features 10 rooms rented individually
Overview
At 2370 Sherwood, the upper unit is leased for $1,000 per month and the lower unit is leased for $1,500 per month. The 10-room apartment building rents units at a rate of $450 to $500 per room, and the 736 building is also described as having 10 rooms rented individually.
The property is suited for buyers looking for a residential income mix that combines a duplex-style configuration with a separate multi-room building. With existing unit and room-level leasing structure, it may appeal to owner-operators or investors seeking to manage tenant occupancy across both buildings under one ownership group. The presence of laundry in the upper and lower units at 2370 Sherwood supports day-to-day tenant convenience within that component of the asset.
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 | $38.0k | $15.00 |
| − Vacancy | −$2.5k | −$0.98 |
| EGI | $35.6k | $14.03 |
| − OpEx | −$10.7k | −$4.21 |
| NOI | $24.9k | $9.82 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Macomb
- State
- Michigan
- Longitude
- -83.035639
- Latitude
- 42.468124
