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    321 Milford St New York, NY 10018

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    For Sale
    Contact for pricing

    Solid brick, high-cap rate multifamily.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This well-maintained, legal four-family brick building at 321 Milford Street in New York, NY 10018 presents a compelling investment opportunity. The semi-attached structure boasts 3,184 square feet of living space, situated on a 36 x 100 lot with a private driveway. The building features two three-bedroom apartments and two two-bedroom apartments, each with a spacious living room and modern open-plan kitchen. Recent upgrades include all new plumbing, gas lines, and electrical systems throughout the building. A new gas boiler with a 75-gallon hot water tank and a new rubberized roof ensure efficiency and longevity. The full basement offers high ceilings, ceramic tile, ample windows, and two entrances. The property benefits from R5 zoning and a significant 1,332 unused FAR. The building's strong financial performance is highlighted by an annual income of $100,968, expenses of $12,359, and a net operating income (NOI) of $88,609. Conveniently located near the A and C trains, buses, and various shopping options, this property offers immediate rental income with minimal required work. The high ceilings and excellent location make this a truly exceptional investment. The asking price is $1.35 million.

    Property Features for 321 Milford St

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    4

    HighLights

    • Asking Price: $1.35 Million
    • Annual Income: $100,968
    • Annual Expenses: $12,359
    • Net Operating Income (NOI): $88,609
    • Capitalization Rate (Cap Rate): 6.56%
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    NY
    State
    New York
    Longitude
    -73.8760244
    Latitude
    40.6713116

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    FAQs

    What type of property is this?
    Multifamily property - Solid brick, high-cap rate multifamily.
    Where is this multifamily property located?
    The property is located at 321 Milford St New York, NY.
    What are key features of this property?
    This property features: Asking Price: $1.35 Million; Annual Income: $100,968; Annual Expenses: $12,359
    Request Owner's contact information
    321 Milford St New York, NY 10018
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    New York, NY 10018
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    321 Milford St New York, NY 10018
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