506 East 183rd Street 1
Listing Notes
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.
Price in context
Cheaper than 78% of the 18 homes listed nearby right now, which run $650,000 to $1,150,000.
See all 18 nearby listings
| Address | Asking | Size |
|---|---|---|
| 414 East 182nd Street 3 | $650,000 | 5 bd · 2.5 ba |
| 2137 Clinton Avenue | $675,000 | 3 bd · 2 ba |
| 414 East 182nd Street 1 | $699,000 | 5 bd · 2.5 ba |
| 414 East 182nd Street 2 | $699,000 | 5 bd · 2.5 ba |
| 506 East 183rd Street | $850,000 | 7 bd · 3 ba |
| 2838 Briggs Avenue MULTI FAM | $850,000 | 7 bd · 3 ba |
| 2155 Walton Avenue N/A | $899,000 | 7 bd · 3 ba |
| 2155 Walton Avenue 2 | $899,000 | 7 bd · 3 ba |
| 2469 Hoffman Street 1-3 | $940,000 | 5 bd · 3 ba |
| 1928 Prospect Avenue | $950,000 | 9 bd · 6 ba |
| 794 Fairmont Place | $975,000 | 6 bd · 3 ba |
| 511 East 183rd Street | $999,999 | 7 bd · 2.5 ba |
| 2884 Valentine Avenue MULTI | $999,999 | 6 bd · 6 ba |
| 354 East 193rd Street | $1,050,000 | 7 bd · 3 ba |
| 350 East 193rd Street | $1,050,000 | 6 bd · 3 ba |
| 2089 Webster Avenue | $1,095,000 | 21 bd · 9 ba |
| 1823 Anthony Avenue 2 | $1,150,000 | 10 bd · 5 ba |
| 1823 Anthony Avenue | $1,150,000 | 10 bd · 5 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more
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