- Bedrooms: 7
- Bathrooms: 3
- Price: $850,000
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 homeowners seeking strong rental income potential. The upper floor features a spacious 5-bedroom, 2-bathroom duplex, thoughtfully redesigned for modern living. The residence showcases luxurious finishes and contemporary design throughout.
The gourmet kitchen boasts sleek countertops, high-end stainless steel appliances, and ample cabinet space, making it perfect for everyday cooking and entertaining. Stylish bathrooms feature chic fixtures and beautiful tiling, creating a spa-like atmosphere. The expansive layout offers generous shared living areas while maintaining comfort and privacy. The lower floor includes a separate 2-bedroom, 1-bathroom unit with its own private entrance.
This unit offers excellent flexibility and can be utilized as a rental for income generation, guest accommodations, or additional living space, significantly enhancing the overall property value while maintaining privacy for both units. Nestled in a thriving South Bronx neighborhood undergoing rapid growth and revitalization, 506 E 183rd Street is conveniently located near major transportation, shopping, dining, parks, and schools, making it highly attractive to residents and tenants alike.
Income and Investment Potential - Based on current rental trends in the South Bronx, the property offers strong cash flow potential. The upper 5-bedroom duplex is estimated to generate approximately $3,000–$4,000 per month, while the lower 2-bedroom unit can yield approximately $3,200–$3,800 per month, totaling an 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 out the other to offset expenses or generate profit, as well as for investors seeking a strong income-generating asset.
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