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Bronx Multifamily Investment Opportunity

1119 Morris Ave The Bronx, NY 10456

1119 Morris Ave The, Bronx, NY, 10456
$1,650,000
For Sale
Claim this Listing
$1,650,000

Detached 3-story building with six vacant residential units.

Property Size6,401 SF
Price / SF$257.77
AddedApr 24
Days on Market82
Last RefreshJun 30 at 5:48 pm

Property Features for 1119 Morris Ave The

General Information

Standard status
Active
Size
6,401 SF
Property subtype
Commercial

Building Details

Year Built
1927

Listing office SOLER REALTY NYC

Listing date Apr 24, 2026

Source Elliman

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 SOLER REALTY NYC


Investment Insights

Based on property information with market context.

Located in the Concourse area of the Bronx, this detached 3-story building at 1119 Morris Avenue presents a multifamily investment opportunity. The property encompasses approximately 6,401 square feet and features six residential units. The units include multiple larger 3-bed and 2-bed layouts. All units are delivered vacant, offering full control for renovation and income optimization. There is excellent upside potential to reconfigure or add bedrooms for increased rental revenue. The property is situated within walking distance of the B & D subway lines and local transit. The location is considered a transit-oriented, walkable neighborhood with a walk score of 95, a bike score of 68, and a transit score of 100. This property is suitable for investors or owner-occupants seeking a high-cap-rate asset in a strong Bronx rental market.

Key Highlights

  • Delivered Vacant: Full control for renovation and income optimization.
  • High Transit Score (100): Rider's Paradise, close to B & D subway lines and local transit.
  • Six Residential Units: Multiple 3‑bed and 2‑bed layouts.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $288.0k $45.00
− Vacancy −$15.8k −$2.48
EGI $272.2k $42.53
− OpEx −$122.5k −$19.14
NOI $149.7k $23.39
6,401 SF · lease $45.00/SF/yr · vacancy 5.50% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$2.14M
$1.87M – $2.50M (±1% cap)
NOI $149,711 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M (±1% cap)
NOI $226,749 @ 7.0% cap · market cap 13.74%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Skin Care Clinic Gym & Fitness Center Kitchen & Bath Showroom Acupuncture HVAC Service Cafe & Coffee Shop Dental Office Carpet & Flooring Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Apartment building - Detached 3-story building with six vacant residential units.
Where is this apartment building located?
The property is located at 1119 Morris Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Delivered Vacant: Full control for renovation and income optimization.; High Transit Score (100): Rider's Paradise, close to B & D subway lines and local transit.; Six Residential Units: Multiple 3‑bed and 2‑bed layouts.
Contact an agent
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