Four-Unit Residential Income
2838-2842 Sherwood Road Columbus, OH 43209
2838-2842 Sherwood Road, Columbus, OH, 43209
$650,000
Pending
For Sale
$650,000
Pending
Four well-configured units with private basements and tenant-paid utilities, offered fully occupied on two parcels.
Property Size5,184 SF
Days on Market53
Property Features for 2838-2842 Sherwood Road
General Information
- Standard status
- Pending
- Size
- 5,184 SF
- Property subtype
- Multi-Family / Townhouse
Building Details
- Year Built
- 1941
Listing agency
Coldwell Banker Realty
(614) 306-6195
Listed by
Mark Kraus · License #382282
(614) 306-6195
Source
Compass
Added: May 31 Updated: Jul 10 at 1:49PM Checked: Jul 22 at 10:38AM
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 Realty
Investment Insights
Based on property information with market context.
This four-unit residential income property combines two 2-bedroom units and two 3-bedroom units, with a layout that includes interior access from each unit to its own private basement. The home’s character features elements described as 1940s architectural details, including arched doorways, oak floors, and sunken living rooms with wrought-iron balustrades. The exterior is described as low-maintenance brick with modern windows, and a new garage roof was completed in 2022.
The property is located in Central Eastmoor, described as close to Bexley and near the coming Cols. LinkUS/Main St commuter buslines. The remarks also note walkability to various places of worship and parochial schools, as well as proximity to Top Restaurant, Bexley shops and restaurants, and several educational and healthcare destinations including Capital University and OSU East and Grant Hospitals. The listing also specifies curb offers only.
The building is fully occupied, and tenants are reported to pay all utilities. The occupancy is described as three long-term tenants on month-to-month terms, with one lease renewable in August. Although the property involves two separate parcels, the parcels are stated to be sold together.
The property is located in Central Eastmoor, described as close to Bexley and near the coming Cols. LinkUS/Main St commuter buslines. The remarks also note walkability to various places of worship and parochial schools, as well as proximity to Top Restaurant, Bexley shops and restaurants, and several educational and healthcare destinations including Capital University and OSU East and Grant Hospitals. The listing also specifies curb offers only.
The building is fully occupied, and tenants are reported to pay all utilities. The occupancy is described as three long-term tenants on month-to-month terms, with one lease renewable in August. Although the property involves two separate parcels, the parcels are stated to be sold together.
Key Highlights
- 4‑unit property built in 1941 with 2 two‑bedroom units and 2 three‑bedroom units
- Fully occupied; tenants pay for all utilities
- Each unit has interior access to a private basement
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 | $67.8k | $13.08 |
| − Vacancy | −$4.7k | −$0.92 |
| EGI | $63.1k | $12.16 |
| − OpEx | −$18.9k | −$3.65 |
| NOI | $44.1k | $8.52 |
5,184 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$630.6K
$551.8K – $735.7K
NOI $44,142 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$507.3K
$443.9K – $591.8K
NOI $35,509 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.08M
$945.3K – $1.26M
NOI $75,626 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four well-configured units with private basements and tenant-paid utilities, offered fully occupied on two parcels.
Where is this quadplex located?
The property is located at 2838-2842 Sherwood Road Columbus, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4‑unit property built in 1941 with 2 two‑bedroom units and 2 three‑bedroom units; Fully occupied; tenants pay for all utilities; Each unit has interior access to a private basement
