Description
Presenting a meticulously renovated, legal 2-family residence situated at 506 E 183rd Street in the rapidly evolving South Bronx. Engineered for contemporary living, modern efficiency, and strong cash flow, this turnkey property delivers a standout investment and residential opportunity in one of the borough's most active markets. Interior Features & LayoutConfiguration: A total of seven bedrooms and three bathrooms across two separate, fully updated units. Upper Residence: A spacious 5-bedroom, 2-bathroom duplex featuring an open-concept flow, abundant natural light, and a modern kitchen equipped with sleek countertops, premium stainless steel appliances, and upgraded bathrooms with elegant tilework and stylish fixtures. Lower Residence: A separate 2-bedroom, 1-bathroom walk-in unit with its own private entrance, offering exceptional flexibility for extended family arrangements or rental income generation. Financial & Investment HighlightsIncome Potential: Estimated monthly rental income ranges from $3,000 to $4,000 for the upper duplex and $3,200 to $3,800 for the lower unit. Monthly & Annual Projections: Combined projected gross monthly income between $6,200 and $7,800, translating to an estimated annual revenue between $74,000 and $94,000. Strategy: Ideal for an owner-occupant seeking rental income support or an investor looking for a fully stabilized, low-maintenance asset. Prime LocationStrategically positioned on a well-connected block benefiting from ongoing neighborhood development, offering close proximity to subway lines, bus routes, local schools, grocery stores, restaurants, and parks for a seamless commute into Manhattan and surrounding boroughs. Professional representation and post-closing rental management and tenant-placement services available to ensure smooth transition and immediate cash flow optimization.
Details
| MLS # | 1035106 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1901 |
| Days On Site | 22 |
| Listing Provided By | WW Realty Group Inc | Eyal Sagi |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 2,112 |
| Units | 2 |
| Acreage | 0.03 |
Interior
| Cooling | None |
|---|---|
| Heating | Electric, Other |
| Interior Features | Other |
Exterior
| Construction Materials | Frame |
|---|
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Other |
Utilities
| Utilities | None |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Assessed Value | 48360 |
| Tax Annual Amount | 3811.36 |
Area Information
| State | NY |
|---|---|
| County | Bronx County |
| City | Bronx |
| Zip Code | 10458 |
| School District | Contact Agent |
| Elementary School | Contact Agent |
| High School | Contact Agent |
| Listing VS Median (in 10458) | |
Price: $850,000 low | high Med: $665,000 sqft: 2,112 low | high Med: 1,536 $ / sqft: $402 low | high Med: $433 On site: 22 low | high Med: 91 | |
Market Activity 10458
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Learn More About This Property
| State | NY |
|---|---|
| County | Bronx County |
| City | Bronx |
| Zip Code | 10458 |
| School District | Contact Agent |
| Elementary School | Contact Agent |
| High School | Contact Agent |
| Listing VS Median (in 10458) | |
Price: $850,000 low | high Med: $665,000 sqft: 2,112 low | high Med: 1,536 $ / sqft: $402 low | high Med: $433 On site: 22 low | high Med: 91 | |
