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461 Milford St, Brooklyn, NY, 11208
Two-Unit Building with Renovated Apartments

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
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 (±1% cap)
NOI $44,358 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$564.2K
$493.7K – $658.3K (±1% cap)
NOI $39,497 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M (±1% cap)
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

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with authorities.

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.
(212) 396-8244 Call to check price and availability
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