Property

Ownership: For Sale
Type: Unknown
Bedrooms: 11 BR
Bathrooms: 6
Pets: Pets No

Financials

Price:$1,195,000
Annual Taxes:$5,891
505 Park Ave, New York, NY 10022
Listing Courtesy of Andrew J. Freerks

Description

Welcome to this rare opportunity to own a fully detached, recently altered, spacious legal 3-family plus home in the heart of University Heights—offering abundant natural light, excellent ventilation, and exceptional living space on every floor. This well-maintained property features: First Floor: 3 bedrooms, 2 bathrooms Second & Third Floors: Each with 4 bedrooms and 2 bathrooms and a full finished basement with outside entrance. Each unit is thoughtfully designed for modern living, with open-concept layouts that seamlessly blend living, dining, and kitchen spaces. Updated in 2018, every unit includes beautiful wood floors, abundant natural light, and contemporary finishes such as recessed lighting and stainless steel appliances. Additional features include a fully finished basement with a private entrance, perfect for extended living or recreational use, complete with a skylight and access to the backyard—an ideal space for outdoor enjoyment. Situated in a vibrant and growing neighborhood, this home offers unmatched convenience—close to shops, parks, major highways, and public transportation only 2 blocks away. The community of University Heights is known for its accessibility and strong neighborhood feel, with ongoing development signaling strong future property value appreciation. Whether you're an investor seeking steady rental income or a buyer looking to live in one unit while renting the others, this property offers exceptional flexibility and income potential. Recent renovations reduce immediate maintenance concerns, making it truly move-in ready. Selling with excellent paying tenants but 1 unit can be delivered vacant for the owner occupiers for the right price. Yearly income: $84,000 and expense: $11,979. Bonus Opportunity: 1050 Morris Ave is also AVAILABLE FOR PURCHASE—great for buyers seeking portfolio expansion or multi-property ownership. Don’t miss out on this prime investment opportunity in one of the Bronx’s most promising areas!

Amenities

  • Cable - Available
  • Electricity Available
  • First Floor Bedroom
  • First Floor Full Bath
  • Natural Gas Available
  • Natural Gas Connected
  • Water Available
  • Water Connected

Welcome to this rare opportunity to own a fully detached, recently altered, spacious legal 3 family plus home in the heart of University Heights offering abundant natural light, excellent ventilation, ...

View of front of property with a gate and a porch

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.