BEDS7
BATHS3 full
MLS#1002778
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLContact Agent
Property Description
Welcome to 506 E 183rd Street, an exceptional, fully renovated legal 2-unit home offering a prime investment opportunity in the heart of the South Bronx. This meticulously updated property is ideal for investors looking to expand their portfolio or owner-occupants seeking strong rental income potential.The upper level features a spacious 5-bedroom, 2-bathroom duplex, thoughtfully redesigned for modern living. The residence showcases luxurious finishes and contemporary design throughout. The modern kitchen offers sleek countertops, high-end stainless steel appliances, and ample storage, making it perfect for everyday living and entertaining. Elegant bathrooms feature stylish fixtures and beautiful tilework, creating a spa-like atmosphere. The expansive layout provides generous shared living areas while maintaining comfort and privacy.The lower level includes a separate 2-bedroom, 1-bathroom walk-in unit with its own private entrance. This unit offers excellent flexibility and can be used as an income-producing rental, guest accommodations, or additional living space-significantly enhancing the property's overall value while maintaining privacy for both units.Located in a thriving South Bronx neighborhood undergoing rapid growth and revitalization, 506 E 183rd Street is conveniently close to major transportation, shopping, dining, parks, and schools, making it highly attractive to both residents and tenants.Income & Investment Potential -Based on current South Bronx rental trends, the property offers strong cash-flow potential. The 5-bedroom upper duplex is estimated to generate approximately $3,000-$4,000 per month, while the 2-bedroom lower unit may generate approximately $3,200-$3,800 per month, for a total estimated monthly income of $6,200-$7,800 (approximately $74,000-$94,000 annually).This makes 506 E 183rd Street an ideal opportunity for buyers looking to live in one unit while renting the other to offset expenses or generate profit, as well as investors seeking a strong income-producing asset. Our team also offers full rental and tenant-placement services after purchase, helping you transition seamlessly from closing to cash flow.
Property Features
Property Type: Multi Unit - Multiple
Cooling: None
Heating: Electric, Other
Home Style: Other
Lot Size: 0.03 Acres
Taxes: $3,811
Year Built: 1901
Amenities
Other
Feature Descriptions
Building Area Total: 2112
Days on Site: 19
Exterior: Frame
Lot Dimensions: 16 x 82.25
On Market Date: 2026-06-04
Parcel Number: 03050-0064
Parking Features: Other
Rental Term: Monthly
Sewer: Public Sewer
Units: 2
Utilities: None
Water: Public
Local Schools
High School: Contact Agent
Elementary School: Contact Agent
School District: Contact Agent
Listed By / Shown By
Listing By
Agency Name: WW Realty Group Inc
Agency Phone: 917-319-8892
Shown By
Agency Title: Coldwell Banker Choice Properties
Agency Phone: 833-88-CHOICE (2-4642)
Estimate Your Payment
Estimated Payment
$ 2,457.23 per month $1,891.73 Principal & Interest $317.58 Property Tax $247.92 Homeowner's InsuranceChange Payment Information
Broker Headquarters, 621 Columbia St. Suite 800, Cohoes, NY 12047
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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506 E 183rd Street | MLS# 1002778
This multi-family property located at 506 E 183rd Street, Bronx, NY 10458 is currently listed for sale with an asking price of $850,000. E 183rd Street is located within the Contact Agent school district. Search Bronx real estate on www.coldwellbankerchoice.com today.