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Douglas Elliman has been retained on an exclusive basis to arrange the sale of 1122 Fox St, a 5,280 sqf, four-unit, walk-up townhouse, in the Foxhurst section of the Bronx. This residential building contains four floor-through, over-sized 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 the 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. Occupants 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 area long 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.