Brooklyn Legal 4-Family Brick
321 Milford St, Brooklyn, NY 11208
Multi-Unit (2-4) - Brooklyn, NY
Property size:
3,184 SFLot size:
0.08 AcresPrice / SF:
$486/SF- Added:
- Jan 5, 2026
- Days on Market:
- 146
- Last Refresh:
- May 31 at 8:06 am
Property Features for 321 Milford St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Garage
- Standard status
- Active
- Size
- 3,184 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 0
Building Details
- Architectural style
- Other
Listing agent Jean Paul Ho (718) 875-8899
Listing office BROOKLYN REAL PROPERTY INC 389 ATLANTIC AVE, Brooklyn, NY (718) 875-8899
Listing date Jan 5, 2026
MLS# 11624648
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High 8.03% CAP Rate and substantial $124,518 Net Operating Income
- Two vacant units (1 two‑bedroom & 1 three‑bedroom) for immediate rental income
- Completely renovated with new plumbing, gas line, electric, gas boiler, and rubberized roof
- Significant unused FAR (1,332 sq ft) for future expansion
- Convenient location near A & C trains, buses, and shopping
- Solid brick construction, semi‑attached legal 4‑family with spacious apartments and a full basement
Overview
This semi-attached, legal 4-family brick building is located in Brooklyn on Milford Street. It features two 3-bedroom apartments and two 2-bedroom apartments, each with a large living room and an open-plan modern kitchen. The building has undergone comprehensive renovations, including new plumbing, a new gas line, and updated electric systems throughout. A new gas boiler with a 75-gallon hot water tank has been installed, along with a new rubberized roof. The property offers 3,184 square feet of living space within a building that measures 26 feet wide and 72 feet deep. The full basement features high ceilings, ceramic tile flooring, multiple windows, and two entrances. Situated on a 36 x 100 lot with a private drive and R5 zoning, the property includes 1,332 of unused FAR. It is conveniently located near the A & C train lines, buses, and shopping areas. Two units are currently vacant: one 2-bedroom and one 3-bedroom. The property is FHA approved and may be purchased with 3.5% down for qualified buyers. The property is in great condition. The building generates an income of $139,800 per year, with expenses of $15,282, resulting in a net operating income of $124,518 and a CAP rate of 8.03%.
Local 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 Profile
Location Intelligence
Current Use by Public Records
North Hollywood Group
Theater & Performing Art Venue
Brigthmoon icn
Construction Company
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.876032
- Latitude
- 40.671308
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Legal 4-family brick building with vacant units in Brooklyn.
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: High 8.03% CAP Rate and substantial $124,518 Net Operating Income; Two vacant units (1 two‑bedroom & 1 three‑bedroom) for immediate rental income; Completely renovated with new plumbing, gas line, electric, gas boiler, and rubberized roof
