Updated Brick & Stone Multifamily
1183 Neill Avenue Bronx, NY 10461
1183 Neill Avenue, Bronx, NY, 10461
$1,550,000
For Sale
$1,550,000
All-brick and stone multifamily with three living levels, updated kitchens and baths, and direct walk-out patio access.
Property Size2,981 SF
Price / SF$519.96
Days on Market70
Property Features for 1183 Neill Avenue
General Information
- Standard status
- Active
- Size
- 2,981 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1950
Listing agency
Morris Park Realty Group
(718) 881-1923
Listed by
Joseph Cosentino · License #10311205741
(718) 881-1923
Source
Compass
Added: May 14 Updated: Jul 22 at 3:07AM Checked: Jul 22 at 3:07AM
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 Morris Park Realty Group
Investment Insights
Based on property information with market context.
Completely updated all-brick and stone multifamily home offering flexible, multi-level living. The top floor features a large open-concept living and dining area, an updated kitchen with stainless steel appliances, three bedrooms, and a full bathroom. The second floor provides a bright two-bedroom layout with a large living room, formal dining room, updated kitchen with stainless steel appliances, a new bathroom, and hardwood floors throughout. The finished walk-out first floor accessory apartment adds additional living space with an updated kitchen, stainless steel appliances, an updated bathroom, and direct access to the rear concrete patio.
Additional improvements and conveniences include a new roof, new windows, new exterior LED lighting, a new concrete patio, and a 2-car driveway with garage parking and plenty of storage. The property is supported by oil heat and includes a hot water heater. Located in the Bronx near shopping, transportation, schools, parks, and major highways, it offers everyday accessibility for tenants and occupants.
Additional improvements and conveniences include a new roof, new windows, new exterior LED lighting, a new concrete patio, and a 2-car driveway with garage parking and plenty of storage. The property is supported by oil heat and includes a hot water heater. Located in the Bronx near shopping, transportation, schools, parks, and major highways, it offers everyday accessibility for tenants and occupants.
Key Highlights
- Completely updated all‑brick and stone multifamily built in 1950 with three finished living levels
- Top floor: open‑concept living and dining, updated kitchen with stainless steel appliances, 3 bedrooms, and full bathroom
- Second floor: 2‑bedroom layout with formal dining, updated kitchen with stainless steel appliances, new bathroom, and hardwood floors
Local Financial Insights For Multifamily LT 5
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 | $114.5k | $38.40 |
| − Vacancy | −$6.3k | −$2.11 |
| EGI | $108.2k | $36.29 |
| − OpEx | −$32.5k | −$10.89 |
| NOI | $75.7k | $25.40 |
2,981 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$946.5K – $1.26M
NOI $75,722 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$979.6K
$857.2K – $1.14M
NOI $68,574 @ 7.0% cap · market cap 4.42%
Theoretical Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,594 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - All-brick and stone multifamily with three living levels, updated kitchens and baths, and direct walk-out patio access.
Where is this duplex located?
The property is located at 1183 Neill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Completely updated all‑brick and stone multifamily built in 1950 with three finished living levels; Top floor: open‑concept living and dining, updated kitchen with stainless steel appliances, 3 bedrooms, and full bathroom; Second floor: 2‑bedroom layout with formal dining, updated kitchen with stainless steel appliances, new bathroom, and hardwood floors
