The Bedford Flats 1310-1312 Flatbush Ave 10 Unit Apartment Building $7,930,871 CAD ($793,087 CAD/Unit) 7.18% Cap Rate Brooklyn, NY 11210

The Bedford Flats is a mixed-use investment comprised of two adjoining buildings, offered for sale as a single investment opportunity at 1310 & 1312 Flatbush Avenue in Brooklyn. 1310 features one ground-floor commercial storefront and four 2-bedroom apartments, while 1312 features one ground-floor commercial storefront, two 2-bedroom apartments, and two 3-bedroom apartments. Together, the property includes two commercial storefronts and eight free-market residential apartments. Each building is designed with a commercial storefront fronting Flatbush Avenue and a separate residential entrance along Bedford Avenue, creating a clear distinction between the commercial and residential components.
Ownership has invested significant capital into a complete gut renovation of all eight residential apartments, which are nearing completion and will be delivered as a turnkey apartment product featuring modern finishes, central air conditioning, in-unit washer/dryers, dishwashers, and upgraded building systems throughout. Renderings reflect the completed apartment finishes being delivered. Significant upgrades were also completed to the commercial spaces and underlying building infrastructure, including plumbing, electrical, HVAC, and basement improvements, further enhancing the property's long-term value while minimizing anticipated near-term capital expenditures. The commercial spaces are occupied by established tenants, while all eight residential apartments are vacant, allowing investors to immediately lease the units at market rents and establish a market-rate residential rent roll.
Located near Brooklyn College and public transportation, The Bedford Flats combines stable commercial tenancy, fully renovated free-market apartments, and significant capital improvements, presenting a compelling opportunity to pair immediate commercial income with the ability to establish a market-rate residential rent roll, creating strong long-term cash flow and appreciation potential.