321 Milford St Brooklyn, NY 11208
- Commercial real estate
Current Use by Public Records
- North Hollywood Group / Entertainment Agency
- Brigthmoon icn / Sand Plant
Property Details for 321 Milford St
- Property type
- Commercial real estate
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.8760244
- Latitude
- 40.6713116
