506 E 183rd StreetBronx, NY 10458

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 & Layout Configuration: 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 Highlights Income 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 Location Strategically 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.

Property Information

Property type

Residential Income

Sub-type

Duplex

Style

Other

Year built

1901

Building area

2,112 Sq Ft

Lot size

0.03 acres

Lot dimensions

16 x 82.25

Days on market

1

MLS^® Listing#

1050706

Property Features

Interior

Other

Cooling

None

Heating

Electric · Other

Parking

Other

Construction

Frame

Utilities

None

Sewer

Public Sewer

Water source

Public

Schools

Elementary

Contact Agent

Middle

Call Listing Agent

High

Contact Agent

Financial Details

Annual taxes

$3,811

Assessed value

$48,360

Parcel number

03050-0064