1238 Bedford Ave
Brooklyn, NY 11216
Multifamily Property For Sale · 8 Units

Auction:6/19 - 6/21: 1238 Bedford Ave, Brooklyn ***BIDDER DEPOSITS MUST BE PLACED ONLY BY WIRE TRANSFER OR CASHIERS CHECK. CREDIT CARDS AND BID AGREEMENTS WILL NOT BE ACCEPTED.*** Property tours are available Monday, June 19th from 10:30 AM - 1:00 PM. Please contact Edward Cronin at or or Daniel Doherty at or Investment Highlights 4,000 SF 4-story multi-family building in highly sought-after market Contains 8-units, including a 1st floor duplex, with 75% occupancy Recently renovated kitchens, baths, floors, and exposed brick walls Situated on a 20'x100' parcel totaling 5,400 SF 4-minute walk from Subway with quick access to Manhattan Investment Overview 1238 Bedford Avenue is an 8-unit 4-story multi-family complex located in Brooklyn, NY. 1238 Bedford Avenue (the "Property") is located between Halsey Street and Hancock Street, within the Bedford-Stuyvesant neighborhood of Brooklyn, NY. The 4,000 SF building was built in 1930 and recently underwent a full renovation including new kitchens, baths, floors, and exposed brick walls. It is ideally situated 3 blocks from both the Franklin Avenue and Bedford-Nostrand Subway Stations, providing quick access to both Manhattan and Williamsburg. The Property is currently 75% occupied, providing value-add opportunity through the leasing up of the remaining two vacant units. When fully occupied this asset has a projected NOI of $150,169. Bedford-Stuyvesant is an up-and-coming neighborhood in the highly-desirable Brooklyn residential market. Colloquially known as "Bed-Stuy", the area is currently undergoing a residential renaissance, with numerous luxury condo and rental buildings in development. This is largely due to the neighborhood's rapid growth, which has attracted a diverse mix of students, artists, and professionals, and caused scores of new cafes, restaurants, bakeries, boutiques, galleries, and wine bars to spring up in the area. Bed-Stuy has access to numerous Subway lines, including the A, C, and G, and is within driving distance of the Brooklyn-Queens Expressway and both the LaGuardia and JFK International Airports. This offering presents a new owner with the rare opportunity to operate a value-add multi-family property in one of the city's fastest gr