1047 Morris AVE, Bronx, NY 10456
1047 Morris AVE, Bronx, NY 10456
1047 Morris AVE, Bronx, NY 10456
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Randy Reis

Randy Reis

+1(917) 435-4870
$2,499,999
Est. payment /mo
2,552 Sqft Lot
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Key Details

Property Type Other Types

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 959846

Rental Info No

Year Built 1905

Annual Tax Amount $8,195

Lot Size 2,552 Sqft

Acres 0.0586

Property Sub-Type Multi Family

Source onekey2

Property Description

Introducing 1047 Morris Avenue, a newly developed brick six-family townhouse offering premium modern living, strong in-place income, and future upside in the fast-growing Concourse Village corridor. With approximately $180K in gross income and an estimated $165K NOI, the property delivers a solid ~6.5% cap rate and approximately 5.25% cash-on-cash return with 25% down at today's favorable financing, making it a compelling opportunity for savvy investors seeking a high-quality, free-market asset.

Inside, each residence showcases custom finishes and thoughtful design, including flint-grey cabinetry, stone breakfast bars, stainless steel appliances, and hardwood flooring throughout. Spacious living rooms flow seamlessly into the kitchens—ideal for entertaining—while well-placed powder rooms offer added convenience. Bedrooms easily accommodate full furniture sets, and each unit is equipped with wall units providing efficient heating and cooling.

The six-family configuration includes:
• Two 2-bedroom / 1-bath units
• Three 1-bedroom units
• One studio apartment with ground-floor access

The building also features parking for two additional vehicles, along with common laundry, a security camera system, and pet-friendly accommodations. Tenants pay their own utilities.

Adding to the long-term value, the property is zoned R7-1, allowing for approximately 3,498 additional buildable square feet, presenting a meaningful development or expansion opportunity.

Perfectly positioned in the Concourse section of the Bronx, the building is moments from playgrounds, supermarkets, restaurants, schools, and extensive transit options (4, B, D trains + Bx32, Bx19, Bx21, Bx33, M125). With quick access to major roadways and the George Washington Bridge, commuting is efficient and convenient.

Whether you're an investor seeking strong income with upside or an owner looking for a modern, turnkey asset, 1047 Morris Avenue stands out as a premier opportunity in Concourse Village.

Location

State NY

County Bronx County

Interior

Heating Forced Air

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator, Stainless Steel Appliance(s)

Exterior

Parking Features Driveway

Utilities Available Electricity Available, Natural Gas Available

Building

Sewer Public Sewer

Water Public

Structure Type Brick

Others

Special Listing Condition None

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OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS
Listed by Locqube New York, Inc. • Jeffrie Pena

NEARBY SCHOOL & BUSINESS

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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