Microphones - various microphones may be used but flat response detail accurate microphones like small diaphragm condensers are a good place to start.
Recorder - the recorder used on a foley sound stage can vary but generally a recorder than can be easily synchronized with a video or film playback system is required. The type of recorder most commonly available now is the computer based digital audio workstation.
Visual Screen - while any visual representation of the image will work like a computer monitor or a video screen a large projected image is best because it allows foley artist best assess realistic synchronization.
Monitoring - closed back headphones that envelop the ear are required for foley work because they will allow the foley artist to hear the raw audio recording while not letting any of that sound be heard by the foley microphone
Surfaces - a variety of surfaces from plywood, to stone, to vinyl, to sandpaper, and others are required to recreate, or create from scratch sounds that may be needed to create a convincing world in subjects of the film find themselves.
Noise Making Paraphernalia - all sorts of things can be used to create various sounds seen on screen. A brief example of things would be various types of shoes and boots, blocks of wood, various fibrous materials like cotton, silk, burlap, and leather belts and strips, twigs, shovels, buckets of dirt, doorknobs and key locks mounted in miniature table top doors, plastic wrap, wooden chairs, rubber hose, sand paper, aluminum cans, broken light bulb glass, jars of marbles, jars of BBs, car keys, various guns, chains, ropes, wind up clocks, light switches, cookware, dinnerware, coil springs of various sizes, various shapes and thickness' of sheet metal, things that wurr and buzz and hum, etc...
Size & Shape - the room should be large enough to prevent near reflection sound and shaped in a way to prevent standing waves
Acoustic Treatment - a foley studio should have a very dead sound. No reverb, or as little room reverb as possible, is desired. This is because the foley sound may have to be worldized, or fit, into any given type of scene. If the scene does not require any reverb then the recorded foley sound does not need any treatment, and if the sound needs to be placed in a large cavernous room then reverb can be added electronically. However, if the foley sound is recorded in a room with reverb and then it need to be placed in the scene that is say shot on a sand dune (which is a place that has no reverb at all) the sound will be misplaced. And reverb can not be removed electronically, even with modern noise reduction devices.