506 E 183rd Street, Bronx, NY 10458

Description

2 UNITS. Welcome to 506 E 183rd Street, a fully renovated legal two-unit residence offering a standout investment opportunity in the rapidly evolving South Bronx. Thoughtfully redesigned from top to bottom, this property combines modern finishes, functional layouts, and strong income-producing potential, making it an excellent choice for both investors and end users seeking long-term value. The upper residence is a spacious five-bedroom, two-bathroom duplex that has been completely updated to reflect contemporary living standards. The layout offers an open and comfortable flow, with generously sized bedrooms and well-proportioned common areas that allow for both relaxation and everyday functionality. The kitchen is equipped with modern cabinetry, sleek countertops, stainless steel appliances, and ample storage space, creating a clean and efficient cooking environment suited for both daily use and entertaining. Bathrooms throughout the unit have been upgraded with elegant tilework, stylish fixtures, and a refined design that enhances the overall feel of the home. Large windows throughout the space bring in abundant natural light, adding warmth and brightness to each level. The lower level features a separate two-bedroom, one-bathroom walk-in unit with its own private entrance, offering a high level of flexibility. This additional residence can serve multiple purposes, including rental income generation, extended living arrangements, or guest accommodations, depending on the owner’s needs. The separation between units enhances privacy while maximizing the property’s overall functionality and investment appeal. Located on a well-positioned block in the South Bronx, 506 E 183rd Street benefits from ongoing neighborhood development and strong local demand. The area continues to experience growth driven by new development, infrastructure improvements, and increasing buyer and tenant interest. Residents enjoy close proximity to public transportation options, including subway lines and bus routes, providing easy access to Manhattan and surrounding boroughs. Nearby amenities include schools, grocery stores, restaurants, parks, and neighborhood services, all contributing to strong rental desirability. From an investment standpoint, this property offers significant income potential based on current market conditions. The five-bedroom upper duplex is estimated to generate approximately $3,000 to $4,000 per month, while the two-bedroom lower unit may generate approximately $3,200 to $3,800 per month. Combined, the projected gross monthly income ranges from approximately $6,200 to $7,800, translating to an estimated annual income between $74,000 and $94,000. This structure creates a compelling opportunity for an owner to occupy one unit while generating rental income from the other, or to lease both units for maximum return. In addition, the property’s renovated condition reduces immediate capital expenditure needs, allowing for quicker stabilization and income generation. Whether expanding an investment portfolio or securing a fully updated residence with strong income support, 506 E 183rd Street delivers a rare combination of modern living, strategic location, and financial upside in one of the Bronx’s most active markets. Our team also provides full rental management and tenant placement services after purchase, ensuring a smooth transition from acquisition to consistent cash flow.

Property Information

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

HOA & Tax

Annual Tax:

$3,811

Assessed Value:

$48,360

Parcel #:

03050-0064

Affordability Calculator