Two-Unit Building with Renovated
461 Milford St Brooklyn, NY 11208
For Sale
Contact for pricing
Two-story building featuring renovated apartments and a full basement.
Property Size1,728 SF
Price / SF$546.88
Days on Market889
Property Features for 461 Milford St
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multifamily
Building Details
Year Built
1920
Listing Agency:
Brown Harris Stevens
(212) 396-8244
Listed By:
Kervin Vales · License #109918089
Source:
Crexi
Added: Feb 21, 2024
Changed: Jul 6
Last Checked: Jul 28 at 1:47PM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This 18-foot wide, two-story building contains two units. The first floor features a three-bedroom apartment with a wide bedroom at the front, a central living room/dining area, a bedroom on the right side, and a full bathroom on the left. The master bedroom at the back provides access to the deck and backyard. The second floor also offers a three-bedroom apartment with a similar layout: a wide front bedroom, a central living room/dining area, a bedroom to the right, and a full bathroom to the left. The master bedroom at the back overlooks the backyard. The property includes a full, open, and column-free basement accessible from the first-floor apartment and the back of the building. The basement features side windows, a full bathroom, a utility room housing two gas boilers and two water heaters, and 7-foot ceilings, offering the potential to be duplexed with the first-floor apartment. Both units have been completely renovated, featuring wood floors and tiled kitchens and bathrooms. The hallways and stairs are in good condition. This property presents a prime opportunity for an owner-occupier to reside on the first floor with personal access to the basement and backyard, with the potential to convert the basement into a home office or gym, and to add a kitchenette and laundry area. It is also a prime investment opportunity, as each apartment has its own boiler and water heater, allowing tenants to pay their own heating. While currently having one electric meter, value can be added by installing individual electric meters for each unit. Transportation is readily accessible via the A train to Euclid Avenue and the 2, 3, and 4 trains at New Lots Avenue, providing easy access to Manhattan.
Key Highlights
- Two renovated 3‑bedroom apartments, ideal for owner‑occupancy with rental income.
- Full, column‑free basement with 7' ceilings and bathroom, offering duplex potential or conversion to home office/gym.
- First‑floor apartment with direct access to the backyard and basement.
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 | $66.4k | $38.40 |
| − Vacancy | −$3.0k | −$1.73 |
| EGI | $63.4k | $36.67 |
| − OpEx | −$19.0k | −$11.00 |
| NOI | $44.4k | $25.67 |
1,728 SF · lease $38.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$633.7K
$554.5K – $739.3K
NOI $44,358 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$564.2K
$493.7K – $658.3K
NOI $39,497 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M
NOI $74,013 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-story building featuring renovated apartments and a full basement.
Where is this duplex located?
The property is located at 461 Milford St Brooklyn, NY.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Two renovated 3‑bedroom apartments, ideal for owner‑occupancy with rental income.; **Full, column‑free basement with 7' ceilings and bathroom, offering duplex potential or conversion to home office/gym.**; First‑floor apartment with direct access to the backyard and basement.