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    321 Milford St Brooklyn, NY 11208

    For Sale
    Contact for pricing

    Newly renovated, high-cap rate multifamily.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This meticulously renovated Brooklyn four-family apartment building presents a compelling investment opportunity. The property boasts 3,184 square feet of living space, distributed across two three-bedroom and two two-bedroom units, each featuring a spacious living room and modern open-plan kitchen. A complete gut renovation included new plumbing, gas lines, electrical systems, a new gas boiler with a 75-gallon hot water tank, and a new rubberized roof. The building is free of violations. Additional features include high ceilings throughout, a full basement with ceramic tile, ample windows, and two basement entrances. Situated on a 36 x 100 lot, the property offers a secure private driveway with ample parking for 8-10 cars and additional yard space. The R5 zoning allows for 1,332 unused FAR. Currently, all units are rented at market value, contributing to a 6% cap rate with a projected 7%. Conveniently located near the A and C trains, buses, and shopping, this property offers immediate cash flow with minimal effort. The building is FHA approved and qualifies for financing options with as little as 3.5% down. Low taxes and a highly motivated seller make this an exceptional investment prospect.

    Property Features for 321 Milford St

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    4

    HighLights

    • Gut‑renovated four‑family brick building in Brooklyn.
    • 3,184 sq ft, featuring two 3‑bedroom and two 2‑bedroom units with modern kitchens and spacious living rooms.
    • New plumbing, electric, gas lines, boiler, hot water tank, and rubber roof; no violations.
    • Full finished basement with ceramic tile, high ceilings, ample windows, and two basement entrances.
    • 36 x 100 lot with private driveway, parking for 8‑10 cars, and yard space.
    • R5 zoning with 1,332 sq ft unused FAR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    North Hollywood Group Entertainment Agency Brigthmoon icn Sand Plant

    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
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8760244
    Latitude
    40.6713116

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    FAQs

    What type of property is this?
    Multifamily property - Newly renovated, high-cap rate multifamily.
    Where is this multifamily property located?
    The property is located at 321 Milford St Brooklyn, NY.
    What are key features of this property?
    This property features: Gut-renovated four-family brick building in Brooklyn.; 3,184 sq ft, featuring two 3-bedroom and two 2-bedroom units with modern kitchens and spacious living rooms.; New plumbing, electric, gas lines, boiler, hot water tank, and rubber roof; no violations.
    Request Owner's contact information
    321 Milford St Brooklyn, NY 11208
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    Brooklyn, NY 11208
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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 Brooklyn, NY 11208
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