$7,000,000
1231-1235 BEDFORD AVENUE PACKAGE
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 9,888
Units 16
Cap Rate 3.00%
Occupancy 60%
Tenancy Multi
Price per SqFt $313
Year Built 1899
Buildings 3
Lot Size (SqFt) 4,800
Zoning C4-5D/R7D
Investment Type Value Add
Ground Lease No
Sale Condition For sale by owner
Three-Building Mixed-Use Package
Marketing description
Sarrazin Estates Ltd. has been exclusively retained to arrange the sale of three adjoining mixed-use properties at 1231, 1233 and 1235 Bedford Avenue. The portfolio is offered only as a single package and contains 12 rent-stabilized one-bedroom apartments and four commercial units. All commercial units will be delivered vacant and free of commercial tenancies at closing.
Investment highlights
- Vacant commercial delivery creates immediate leasing and repositioning optionality.
- Four vacant residential apartments and two pending eviction proceedings create additional value-add potential, subject to applicable law.
- Reported development potential materially exceeds the existing building area, subject to independent architectural and legal verification.
- All-cash and third-party financed acquisitions will be considered with appropriate proof of funds or lender support and customary due diligence.
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