Morrisania Multi-Unit
For Sale
$790,000
Pending
585 E 167th St The, Bronx, NY 10456
Multi-family property in Morrisania, South Bronx with vacant units.
Property Size2,295 SF
Lot Size0.06 Acres
Days on Market313
Property Features for 585 E 167th St The
General Information
Standard status
Pending
Size
2,295 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,800
Building Details
Building Size
2,295 SF
Year Built
1901
Units
3
Listed By:
Non Member-MLS
Source:
Elliman
Added: Nov 28, 2025
Changed: Sep 24
Last Checked: Oct 5 at 6:57PM
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 Non Member-MLS
Investment Insights
Based on property information with market context.
Located in the Morrisania neighborhood, this multi-family property at 585 E 167th St, Bronx, NY 10456, offers convenient access to transportation, including train, bus, and highway options. The property features a dynamic layout, with Unit 1 containing 2 bedrooms and a bathroom, while Units 2 and 3 each offer 3 bedrooms and a bathroom. Amenities include a garage, a multifunctional basement, and a backyard. All units will be delivered vacant at closing, providing flexibility and income opportunities.
Key Highlights
- All units delivered vacant, offering flexibility.
- Prime Morrisania, South Bronx location with easy access to transportation.
- Multi‑unit property: Unit 1 (2 bed/1 bath), Units 2 & 3 (3 bed/1 bath each).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,677
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,540
$1.1M
Cap Rate 7%
$766,814
$766.8K
Cap Rate 9%
$596,411
$596.4K
Market Conditions
NOI Build-Up for 2,295 SF
Gross rent
$103.3K $45.00/SF
− Vacancy
−$5.7K −$2.48/SF
EGI
$97.6K $42.53/SF
− OpEx
−$43.9K −$19.14/SF
NOI
$53.7K $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%
$1,073,540
Cap Rate 7%
$766,814
Cap Rate 9%
$596,411
Alternative Uses
Best Use
Apartment 5plus
$766.8K
$671.0K – $894.6K
NOI $53,677 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,298 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,552
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-family property in Morrisania, South Bronx with vacant units.
Where is this multifamily property located?
The property is located at 585 E 167th St The Bronx, NY.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: All units delivered vacant, offering flexibility.; Prime Morrisania, South Bronx location with easy access to transportation.; Multi‑unit property: Unit 1 (2 bed/1 bath), Units 2 & 3 (3 bed/1 bath each).
