1331 Elm Street
- Value add opportunity
- Off street parking
- Furnished luxury apartments
- Secure access building
Property Description
New England Realty Advisors LLC is proud to present the Bedford Block, a premier mixed-use asset comprising 52 residential apartments and 10 commercial units, complemented by 45 on-site parking spaces and additional long-term parking available on a neighboring lot. Specifically designed to maximize income and value per square foot, the residential component successfully caters to a niche market for luxury, furnished apartments. The property achieves high performance by emphasizing standout amenities, including secure access, elevator, convenient parking, and attentive professional management. While the majority of the building is anchored by stable, long-term tenants committed to 12-month leases and renewals, the furnished model offers a distinct strategic advantage. During vacancies, ownership can capitalize on short-term occupancy at significantly higher nightly or monthly rates—frequently capturing corporate clients, executives relocating on short notice for nearby acquisitions, or individuals who prefer the flexibility of avoiding furniture ownership and moving. This unique operational structure not only drives elevated short-term yields but also serves as a natural feeder pipeline, with many short-term guests ultimately transitioning into committed, long-term tenants.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $13,900,000 |
| No. of Units: | 62 |
| Year Built: | 1910 |
| Lot Size: | 0.74 Acres |
| Opportunity Zone: | No |
| Price per unit: | $224,194 |
| Property Website | Click Here |
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