1122 Fox Street

Description

Douglas Elliman has been retained on an exclusive basis to arrange the sale of 1122 Fox St, a 5,280 sqft, four-unit, walk-up townhouse, in the Foxhurst section of the Bronx. This residential building contains four floor-through, oversized apartment units. Featuring 17 bedrooms in total the layout by floor consists of the following: Unit One -- three bedrooms and one bath, Unit Two -- four bedrooms and a bath, and Units Three and Four each have five bedrooms. A $250,000 investment was made into the property in 2018, which contributes to its low operating costs and above-market cap rate. Tenants pay for their own electric, cooking gas, and hot water, while the owner pays for the building's heat. With current income the property boasts a cap rate of 9.1%, and given the updated rent guidelines an investor could achieve almost 11% as the leases are renewed. Local shopping and restaurants are along the Westchester Ave and Southern Blvd commercial corridors. Conveniently located along the MTA's number 2 and 5 train lines, the building is only two blocks from the Simpson Street station, for a 40-minute ride into Midtown. Don't miss out on this opportunity.