Renovated Two-Bedroom
For Sale
$670,000
1240 BEDFORD Avenue 1F, Brooklyn, NY 11216
The residence has in-unit laundry and access to an elevator, courtyard, bike storage, and a parking lot.
Property Size850 SF
Price / SF$788.24
Days on Market124
Property Features for 1240 BEDFORD Avenue 1F
General Information
Standard status
Active
Size
850 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$492
Amenities
common courtyard with BBQ grills
laundry facility
bike storage
parking lot
virtual doorman
super
pet-friendly policy
full-size washer and dryer
Building Details
Building Size
850 SF
Year Built
2003
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
James Samuel Jaquez
(212) 381-4258
Source:
Archpointadvisory
Added: Jun 26
Changed: Oct 27
Last Checked: Oct 26 at 3:51PM
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
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Investment Insights
Based on property information with market context.
This renovated 850-square-foot condominium has two bedrooms, one bathroom, and a living and dining area. The kitchen has stainless steel appliances, and a full-size washer and dryer are located in the unit. The elevator building also offers a common courtyard with BBQ grills, bike storage, a parking lot, a virtual doorman, and a building superintendent. Pets are permitted. A 421-A tax abatement runs through 2030.
The property is one block from the A and C trains at Nostrand Avenue. Franklin Avenue and Fulton Street restaurants and cafés are nearby, with LIRR service, CitiBike stations, and multiple bus routes also close by.
The property is one block from the A and C trains at Nostrand Avenue. Franklin Avenue and Fulton Street restaurants and cafés are nearby, with LIRR service, CitiBike stations, and multiple bus routes also close by.
Key Highlights
- Renovated 850‑square‑foot condominium with two bedrooms and one bathroom
- Full‑size washer and dryer in the unit
- Elevator building with a common courtyard, BBQ grills, bike storage, and a parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,950
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,299
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence has in-unit laundry and access to an elevator, courtyard, bike storage, and a parking lot.
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 850‑square‑foot condominium with two bedrooms and one bathroom; Full‑size washer and dryer in the unit; Elevator building with a common courtyard, BBQ grills, bike storage, and a parking lot
