1024 Faile St, Bronx, NY 10459

0VER 10% GROSS CAP RATE ! **Investor's Dream** There is no catch! Ideal Location: Faile St. rated "Walker's Paradise" by Zillow THE OPPORTUNITY:  Receive $136,200 Yearly Gross Income! This is a unique, gut renovated, 20ft-wide bowed-facade prewar 3-family townhouse on a superb block with W/D in each unit, low taxes and expenses. Tenants pay all utilities! Yearly Real Estate Taxes are only $4,978 LAYOUT AND RENT-ROLL: This collection-worthy building consists of: -  Apt 1:  7-Rm/ 4-Bedrm + finished windowed basement / Recreation Rm/ 2 Bathrms/ Bowed Living Rm This duplex is composed of an elevated Ground Floor-through + full Windowed Basement Both floors offer direct access to a stunning private Garden. Current Tenant pays: $4750 pm plus all utilities Excellent and stable Tenant for the past 8 yrs. -  Apt 2: 2nd floor-through apt composed of 6-Rm/ 4-Bedrm/ 1-Bath/ Bowed Living rm Present Tenant pays $3200 pm  plus all utilities For rental increase, one could decide to give this unit access to the garden via the fire-escape, or to the roof-deck presently bare.   -  Apt 3: 3rd floor-through apt composed of 6-Rm/ 4-Bedrm/ 1-Bath / Bowed Living Rm: Present Tenant pays $3400 pm  plus all utilities For rental increase, one could decide to give this unit access to the garden via the fire-escape, or to the roof-deck presently bare.   ----------- Total income: $136,200 p.yr At the purchase price of $1.299M: gross cap rate is 10.4%   A truly exceptional cap rate while the average in the Bronx is closer to 5%. Present Insurance = $5125 per year, imposed by the financing bank. Bought all cash, a lower insurance cost would be possible for liability only. DIMENSIONS: Property Shark states 3330 sf, + finished windwd basmt + bath of 1200 gross sf = 4530. CONSULT YOUR ARCHITECT for accuracy. This is a rare 20'-wide facade, offering ample space within Built 60' deep = 1200 gross sf per fl + 1200 basmtt = 4800 gross sf On a 100'  lot, allowing a wonderful garden of 20' x 40' ARCHITECTURE: This is an elegant and noble 20-ft-wide building within a row built in 1901, inspired by Italianate and Beaux-Art styles. It presents a bowed facade, accented by beige brick and limestone details, and stunning cornices. The entire Tree-Lined street has a superb Striver's Row feel as bowed facades alternate with trigonal bays. If it were in Manhattan, no doubt this harmonious tree-lined block would already be a historic landmark. Future will tell! FEATURES: Elegantly designed, each apartment offers: - wonderful oak floors - refinished exposed brick walls - high ceilings - an open kitchen with stainless steel appliances: dish washer,  microwave, direct venting, granite countertops, glass backsplash  New Hardwood Floors, High Ceilings. Washer/Dryer in the apartment. Marble Bathroom. Queen size bedrooms. Closets in all the bedrooms - washer and gas-dryer within their dedicated closet and direct outside venting - Marble Bathroom - Queen size bedrooms with closet space in all the bedrooms - Views and quietude are exceptional on this stunning beautiful tree lines street - Double-Pane windows throughout This townhouse has 3 recent gas boilers, 3 recent hot-water heaters The 3 Washer and Dryers are included There is new gas piping throughout the property Tenants pay all utilities SUPERB LOCATION: Faile Street, truly a block to discover! This stunning and quiet tree-lined street offers a unique residential flavor, all convenient services: - Chase Bank a few steps away - restaurants and bars - Immediate proximity to all subway lines toward East and West Manhattan, Fordham U., etc. You won't lack conveniences in Longwood, one of the Bronx's fastest growing areas TRANSPORTATION: 3 blocks from the  2 and 6 trains at either Hunts Point or Simpson stations Buses 2 to 4 blocks away City Bike and Scooter stations within 3 blocks THIS WILL SELL FAST, BASED ON THE GROSS CAP RATE OF OVER 10%