Three-Story Brick
1637 Nelson Avenue Bronx, NY 10453
For Sale
$1,650,000
Three-story brick building with six units, including five two-bedroom apartments and one one-bedroom unit.
Property Size3,969 SF
Price / SF$415.72
Days on Market1505
Property Features for 1637 Nelson Avenue
General Information
- Standard status
- Active
- Size
- 3,969 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1911
Listing Agency:
RE/MAX Top
(718) 684-5228
Listed By:
Miriam Soto · License #684021
(718) 684-5228
Source:
Compass
Added: Jun 10, 2022
Changed: Jul 20
Last Checked: Jul 23 at 6:41AM
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 RE/MAX Top
Investment Insights
Based on property information with market context.
This three-story brick multifamily property contains six total residential units. The unit mix includes five two-bedroom apartments and one one-bedroom apartment. The building is described as having large rooms, with a total gross square footage of 3,969. The property also features a security system.
The property is located in the Morris Heights section of the Bronx, with convenience to major transportation.
From a practical leasing and operations standpoint, the configuration is straightforward: six separate apartments within a single brick building, supported by an on-site security system.
The property is located in the Morris Heights section of the Bronx, with convenience to major transportation.
From a practical leasing and operations standpoint, the configuration is straightforward: six separate apartments within a single brick building, supported by an on-site security system.
Key Highlights
- Three‑story brick multifamily building with 6 family units
- Unit mix includes five 2‑bedroom apartments and one 1‑bedroom apartment
- Finished basement
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 | $176.2k | $44.40 |
| − Vacancy | −$7.9k | −$2.00 |
| EGI | $168.3k | $42.40 |
| − OpEx | −$75.7k | −$19.08 |
| NOI | $92.6k | $23.32 |
3,969 SF · lease $44.40/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,561 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,425 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Casa de Leonor
Apartment Building
FAQs
What type of property is this?
Apartment building - Three-story brick building with six units, including five two-bedroom apartments and one one-bedroom unit.
Where is this apartment building located?
The property is located at 1637 Nelson Avenue 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: Three‑story brick multifamily building with 6 family units; Unit mix includes five 2‑bedroom apartments and one 1‑bedroom apartment; Finished basement
