Brick Semi-Attached
321 Milford St Brooklyn, NY 11208
For Sale
$1,550,000
Solid brick fourplex with two vacant units and recent building-wide updates including plumbing, gas, electric, boiler, and roof.
Property Size3,184 SF
Lot Size0.08 Acres
Price / SF$486.81
Days on Market77
Property Features for 321 Milford St
General Information
- Standard status
- Active
- Size
- 3,184 SF
- Lot size
- 0.08 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing Agency:
Brooklyn Real Property Inc.
(718) 875-8899
Listed By:
Jean Paul Ho
(718) 875-8899
Source:
Elliman
Added: May 9
Changed: Jul 21
Last Checked: Jul 23 at 11:34AM
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 Brooklyn Real Property Inc.
Investment Insights
Based on property information with market context.
Solid brick, semi-attached fourplex arranged with two three-bedroom and two two-bedroom apartments. Two units are currently vacant, including one 2-bedroom and one 3-bedroom, allowing for immediate leasing or occupancy planning. The building features high ceilings, lots of windows, and two entrances, along with a full basement with high ceiling and ceramic tile.
Recent major systems work is documented across the property, including all-new plumbing, gas line, and electric for the entire building, as well as a new gas boiler with a 75-gallon hot water tank and a new rubberized roof. The property is situated on a 36 x 100 lot with a private drive. R5 zoning is noted in the offering materials. The area is described as convenient to the A & C train and bus routes, with shopping nearby.
The configuration offers a straightforward four-unit rental structure with two-bedroom and three-bedroom layouts within the same building.
Recent major systems work is documented across the property, including all-new plumbing, gas line, and electric for the entire building, as well as a new gas boiler with a 75-gallon hot water tank and a new rubberized roof. The property is situated on a 36 x 100 lot with a private drive. R5 zoning is noted in the offering materials. The area is described as convenient to the A & C train and bus routes, with shopping nearby.
The configuration offers a straightforward four-unit rental structure with two-bedroom and three-bedroom layouts within the same building.
Key Highlights
- Solid brick 4‑family (semi‑attached) built in 1925, totaling 3,184 sq ft living space
- 2 vacant units: one 2‑bedroom and one 3‑bedroom; also includes two other 2‑bedroom and 3‑bedroom units
- Building‑wide updates: new plumbing, gas line, and electric; new gas boiler with 75‑gallon hot water tank; new rubberized roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.3k | $38.40 |
| − Vacancy | −$5.5k | −$1.73 |
| EGI | $116.8k | $36.67 |
| − OpEx | −$35.0k | −$11.00 |
| NOI | $81.7k | $25.67 |
3,184 SF · lease $38.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,735 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$1.04M
$909.7K – $1.21M
NOI $72,777 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,375 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
North Hollywood Group
Theater & Performing Art Venue
Brigthmoon icn
Construction Company
FAQs
What type of property is this?
Quadplex - Solid brick fourplex with two vacant units and recent building-wide updates including plumbing, gas, electric, boiler, and roof.
Where is this quadplex located?
The property is located at 321 Milford St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Solid brick 4‑family (semi‑attached) built in 1925, totaling 3,184 sq ft living space; 2 vacant units: one 2‑bedroom and one 3‑bedroom; also includes two other 2‑bedroom and 3‑bedroom units; Building‑wide updates: new plumbing, gas line, and electric; new gas boiler with 75‑gallon hot water tank; new rubberized roof
