Six-Unit Brick Apartment
1047 Morris Ave The, Bronx, NY 10456
For Sale
New
$1,999,999
Renovated homes offer varied layouts, in-unit heating and cooling, shared laundry, and parking for two vehicles.
Property Size5,291 SF
Days on Market2
Property Features for 1047 Morris Ave The
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Income
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
common laundry
security camera system
pet-friendly policies
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
Locqube New York, Inc.
Listed By:
Jeffrie Pena · License NY #10401261474
(917) 242-9882
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Locqube New York, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated brick apartment building contains six residences: two two-bedroom/one-bathroom homes, three one-bedroom homes, and a studio with ground-floor access. Interior features include hardwood floors, stone breakfast bars, stainless steel appliances, flint-grey cabinetry, and wall units for heating and cooling. The property also has common laundry, a security camera system, and parking for two vehicles. Tenants pay their own utilities, and pets are permitted.
Located on Morris Avenue in the Bronx’s Concourse section, the property is near playgrounds, supermarkets, restaurants, schools, and transit. Nearby services include the 4, B, and D trains, as well as the Bx32, Bx19, Bx21, Bx33, and M125 buses. Major roadways and the George Washington Bridge are also accessible.
The property is zoned R7-1, with approximately 3,498 additional buildable square feet. Its stated cap rate is approximately 7.2%.
Located on Morris Avenue in the Bronx’s Concourse section, the property is near playgrounds, supermarkets, restaurants, schools, and transit. Nearby services include the 4, B, and D trains, as well as the Bx32, Bx19, Bx21, Bx33, and M125 buses. Major roadways and the George Washington Bridge are also accessible.
The property is zoned R7-1, with approximately 3,498 additional buildable square feet. Its stated cap rate is approximately 7.2%.
Key Highlights
- Six residences: two 2‑bedroom / 1‑bath units, three 1‑bedroom units, and one studio apartment
- R7‑1 zoning with approximately 3,498 additional buildable square feet
- Parking for two vehicles, common laundry, and a security camera system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,750
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,475,000
$2.5M
Cap Rate 7%
$1,767,857
$1.8M
Cap Rate 9%
$1,375,000
$1.4M
Market Conditions
NOI Build-Up for 5,291 SF
Gross rent
$238.1K $45.00/SF
− Vacancy
−$13.1K −$2.48/SF
EGI
$225.0K $42.53/SF
− OpEx
−$101.2K −$19.14/SF
NOI
$123.7K $23.39/SF
Area
ZIP 10456
Vacancy
5.50%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,475,000
Cap Rate 7%
$1,767,857
Cap Rate 9%
$1,375,000
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.06M
NOI $123,750 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,428 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Apartment buildings in Bronx
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated homes offer varied layouts, in-unit heating and cooling, shared laundry, and parking for two vehicles.
Where is this apartment building located?
The property is located at 1047 Morris Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Six residences: two 2‑bedroom / 1‑bath units, three 1‑bedroom units, and one studio apartment; R7‑1 zoning with approximately 3,498 additional buildable square feet; Parking for two vehicles, common laundry, and a security camera system
