New York, NY 10457

Property

Ownership: For Sale
Type: Unknown
Bedrooms: 8 BR
Bathrooms: 4
Lot Size: 0.1 Acres

Financials

Price:$1,499,999
Annual Taxes:$7,938
505 Park Ave, New York, NY 10022
Listing Courtesy of Locqube New York, Inc.

Welcome to 1501 Teller Avenue, a fully renovated and income producing 4 family townhome situated on a prominent corner lot in the Claremont section of the Bronx.

Description

Welcome to 1501 Teller Avenue, a fully renovated and income-producing 4-family townhome situated on a prominent corner lot in the Claremont section of the Bronx. This turnkey asset features four spacious two-bedroom units, each thoughtfully updated with quartz countertops, stainless steel appliances, white shaker cabinetry, and elegant oak flooring, offering strong tenant appeal and consistent cash flow. The building is fully occupied and generates approximately $93,000 in net operating income, equating to a 6.2% cap rate at the $1,500,000 asking price, with an estimated ~7.7% cash-on-cash return based on 20% down and current 6% financing. Additional features include a brick façade, attached one-car garage, and a full unfinished basement with high ceilings and a separate entrance—presenting a prime opportunity for future expansion or additional income potential in line with NYC’s City of Yes initiatives. The property also benefits from R7-1 zoning with approximately 2,898 square feet of unused FAR, offering long-term development upside. Conveniently located near BronxCare Hospital, shopping, dining, schools, and major transit lines (B, D, and 4 trains), providing an easy commute to Manhattan.

Amenities

  • Granite Counters
  • Near Public Transit
  • Near School
  • Near Shops
  • Trash Collection Public

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.