321 Milford StBrooklyn, NY 11208

For Sale
Call for price

Newly renovated, high-cap rate multifamily.

Overview

Added:
Dec 11, 2024
Days on market:
96
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.

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 Details for 321 Milford St

Property type
Multifamily properties, Apartment buildings
Units
4

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6713116
Longitude
-73.8760244
321 Milford St, Brooklyn, New York

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321 Milford St
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