1042 Washington AveThe Bronx, NY 10456

This exceptional mixed-use property, located at 1042 Washington Avenue in the Morrisania section of the Bronx, NY 10456, presents a compelling value-add investment opportunity. The fully renovated three-story masonry building boasts 3,375 square feet on a 2,133 square foot lot (25' x 86'). The building features a 1,250 square foot ground floor retail space, complemented by a basement and outdoor area. Above the retail space are three free-market residential units: a three-bedroom, one-bathroom unit on the second floor, and two two-bedroom, one-bathroom units on the third floor. Currently, the occupancy rate is 25%. The property benefits from M1-1/R7-2 MX-7 zoning, allowing for light manufacturing and medium-density residential uses. Its prime location offers easy access to the Grand Concourse, Yankee Stadium, local parks, the Bronx Museum of the Arts, and the Melrose Train Station. The asking price is $1,399,999, representing an estimated 8% cap rate. This property offers significant potential for increased rental income and appreciation, making it an ideal addition to any investment portfolio. The building has a 20-foot frontage on Washington Avenue. The property is classified under Tax Class 2A.