Two-Bedroom Condo with Washer and
For Sale
$670,000
1240 BEDFORD Avenue 1F, Brooklyn, NY 11216
Renovated two-bedroom, one-bath condo with in-unit full-size washer and dryer and a vented kitchen.
Property Size850 SF
Price / SF$788.24
Days on Market46
Property Features for 1240 BEDFORD Avenue 1F
General Information
Standard status
Active
Size
850 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Amenities
common courtyard
BBQ grills
laundry facility
bike storage
parking lot
virtual doorman
super
pet-friendly
elevator
washer/dryer
Building Details
Building Size
850 SF
Year Built
2003
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-4258
Listed By:
James Samuel Jaquez
(212) 381-4258
Source:
Carlinwright
Added: Jun 26
Changed: Aug 10
Last Checked: Aug 10 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
Welcome to 1240 Bedford Avenue #1F, a beautifully renovated, light-filled two-bedroom, one-bath condominium residence in a boutique elevator building. The interior is thoughtfully reimagined with a renovated vented kitchen featuring sleek cabinetry and stainless steel appliances. The spacious living and dining area is filled with natural light, while both bedrooms offer generous proportions. The updated bathroom features elegant tile work and contemporary fixtures, and the home includes full-size washer and dryer for day-to-day convenience.
Residents also enjoy building amenities including a common courtyard with BBQ grills, a laundry facility, bike storage, parking lot, virtual doorman, and a super. The community is pet-friendly, and the building provides a 421-A tax abatement through 2030, with heat, hot water, and cooking gas included in the common charges. Built in 2003, this home is located about one block from the A & C trains at Nostrand Avenue, with additional transit options nearby.
All showings are by appointment only.
Residents also enjoy building amenities including a common courtyard with BBQ grills, a laundry facility, bike storage, parking lot, virtual doorman, and a super. The community is pet-friendly, and the building provides a 421-A tax abatement through 2030, with heat, hot water, and cooking gas included in the common charges. Built in 2003, this home is located about one block from the A & C trains at Nostrand Avenue, with additional transit options nearby.
All showings are by appointment only.
Key Highlights
- Renovated two‑bedroom, one‑bath condo with full‑size washer and dryer
- Renovated vented kitchen with stainless steel appliances
- Updated bathroom with elegant tile work and contemporary fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,950
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$519,000
$519.0K
Cap Rate 7%
$370,714
$370.7K
Cap Rate 9%
$288,333
$288.3K
Market Conditions
NOI Build-Up for 850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.1K $56.64/SF
− Vacancy
−$963 −$1.13/SF
EGI
$47.2K $55.51/SF
− OpEx
−$21.2K −$24.98/SF
NOI
$25.9K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$519,000
Cap Rate 7%
$370,714
Cap Rate 9%
$288,333
Alternative Uses
Best Use
Apartment 5plus
$370.7K
$324.4K – $432.5K
NOI $25,950 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated two-bedroom, one-bath condo with in-unit full-size washer and dryer and a vented kitchen.
Where is this residential income property located?
The property is located at 1240 BEDFORD Avenue 1F Brooklyn, NY.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Renovated two‑bedroom, one‑bath condo with full‑size washer and dryer; Renovated vented kitchen with stainless steel appliances; Updated bathroom with elegant tile work and contemporary fixtures
