Bronx Multifamily Investment
1119 Morris Ave The Bronx, NY 10456
1119 Morris Ave The, Bronx, NY, 10456
$1,650,000
Pending
For Sale
$1,650,000
Pending
Detached 3-story building with six vacant residential units.
Property Size6,401 SF
Days on Market90
Property Features for 1119 Morris Ave The
General Information
- Standard status
- Pending
- Size
- 6,401 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1927
Listing agency
Soler Realty
(646) 630-6899
Listed by
Marcus E. Soler
(646) 630-6899
Source
Elliman
Added: Apr 24 Updated: Jul 10 at 1:20PM Checked: Jul 21 at 5:30AM
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
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
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
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
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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.
