Renovated Two-Unit Brick
For Sale
$960,000
1283 E 223rd Street, Bronx, NY 10466
Each residence has three bedrooms, independent heating, and separate utility meters.
Property Size2,026 SF
Lot Size0.06 Acres
Price / SF$473.84
Days on Market67
Property Features for 1283 E 223rd Street
General Information
Standard status
Active
Size
2,026 SF
Total Parking Spaces
4
Lot size
0.06 Acres
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3-bedroom
Multifamily Units
2
Individually Metered Utilities
electricity, gas
Taxes and HOA fees
Annual Taxes
$7,176
Amenities
private paved driveway
fenced backyard
full basement
full attic
Building Details
Building Size
2,026 SF
Year Built
1955
Buildings
1
Construction
brick
Listing Agency:
Exit Realty Premium
Listed By:
Anthony A. Domathoti
(646) 696-1563
Source:
Sheridanres
Added: Aug 26
Changed: Oct 31
Last Checked: Oct 31 at 2:59AM
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 Exit Realty Premium
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Investment Insights
Based on property information with market context.
This brick two-family property contains two three-bedroom apartments across 2,026 square feet, with four full bathrooms in the residences. Both units have updated kitchens and baths, refinished hardwood floors, walk-in closets, and new trim and fixtures. Recent work includes a roof, windows, boilers, hot water heaters, electrical, and plumbing. Each apartment has its own boiler and hot water heater; the property is served by three electric meters and two gas meters.
A full basement includes an additional full bathroom, a front entrance, and rear egress. The building also has a full attic, a fenced backyard, and a paved private driveway with space for four vehicles. Seton Falls Park is nearby, along with shopping, dining, bus service, the #2 and #5 trains, and Metro-North. The Bronx River Parkway, Hutchinson River Parkway, and I-95 provide regional road connections.
A full basement includes an additional full bathroom, a front entrance, and rear egress. The building also has a full attic, a fenced backyard, and a paved private driveway with space for four vehicles. Seton Falls Park is nearby, along with shopping, dining, bus service, the #2 and #5 trains, and Metro-North. The Bronx River Parkway, Hutchinson River Parkway, and I-95 provide regional road connections.
Key Highlights
- Two three‑bedroom apartments with a combined 2,026 sq. ft.
- Lot measures 28 x 100
- Three electric meters and two gas meters; separate boilers and hot water heaters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,464
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,280
$1.0M
Cap Rate 7%
$735,200
$735.2K
Cap Rate 9%
$571,822
$571.8K
Market Conditions
NOI Build-Up for 2,026 SF
Gross rent
$77.8K $38.40/SF
− Vacancy
−$4.3K −$2.11/SF
EGI
$73.5K $36.29/SF
− OpEx
−$22.1K −$10.89/SF
NOI
$51.5K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,280
Cap Rate 7%
$735,200
Cap Rate 9%
$571,822
Alternative Uses
Best Use
Multifamily LT 5
$735.2K
$643.3K – $857.7K
NOI $51,464 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$665.8K
$582.6K – $776.8K
NOI $46,605 @ 7.0% cap · market cap 4.85%
Theoretical Best
Warehouse
$1.40M
$1.23M – $1.64M
NOI $98,271 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, independent heating, and separate utility meters.
Where is this duplex located?
The property is located at 1283 E 223rd Street Bronx, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Two three‑bedroom apartments with a combined 2,026 sq. ft.; Lot measures 28 x 100; Three electric meters and two gas meters; separate boilers and hot water heaters for each unit
