859 Penfield Street, Bronx, NY 10470

Property Description

WELCOME HOME to this rare package sale in the heart of Wakefield. 857 and 859 Penfield Street are two semi-detached brick 2-family homes on a single tax lot, so they must be sold together. The sale also includes 4709 Murdock Avenue, a separate lot with a 3-car garage. Both lots are zoned R4, giving a buyer 4 legal units, a garage, and room to grow in one purchase. Built in 1935, both Penfield buildings have classic brick and stone construction, hardwood floors, and good natural light throughout. Both are legal 2-family homes. 857 Penfield (electric stoves): 1st floor: 1-bedroom, tenant occupied, $1,350/month 2nd floor: Studio, vacant 859 Penfield (gas stoves): 1st floor: 2-bedroom, tenant occupied, $1,650/month 2nd floor: 2-bedroom, tenant occupied, $1,750/month Basement: half bathroom, bonus room, mechanicals, and a separate exit Attic: additional storage Current rents total $4,750 per month and are below market value, so a buyer has room to increase income over time. The 859 tenants are month-to-month, and the 857 lease runs through December 31, 2026, which gives a buyer flexibility. The vacant studio can be rented right away or used by an owner-occupant. Major updates are already done, including a renovated roof and a new gas boiler. Owner pays heat and hot water. All tenants pay their own electric, and 859 tenants have individual gas meters. The Penfield lot includes the yard space. There is no alternate side parking on the street. The 3-car garage sits on its own 2,375 sq ft lot on Murdock Avenue. It needs repair work, but it offers off-street parking, garage rental income, or future development potential. The property is minutes from the 2 and 5 trains, the Wakefield MetroNorth station, and the Bronx River Parkway, with easy access to Westchester, shopping, and parks. This is an ideal opportunity for investors looking for steady income with upside, or for buyers who want to own and live in a multi-unit property. Schedule your viewing today!