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.
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8BEDS
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0.1ACRES
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4BATHS
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01/2 BATHS
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.
© 2026 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Braconi | Keller Williams Village Square Realty. Data last updated: 2026-04-22T00:17:46.873.