Description

Located on Milford Street in Brooklyn, this solid brick semi-attached legal four-family building has been completely gut-renovated from top to bottom. The property features two spacious three-bedroom units and two two-bedroom units, each with a large living room and modern open kitchen. The entire building has been upgraded with brand-new plumbing, gas lines, electrical systems, a new gas boiler, a 75-gallon hot water tank, and a rubberized roof—delivered with no violations. Offering 3,184 sq. ft. of living space, the building measures 26 ft. wide by 72 ft. deep and includes a high-ceiling full basement with ceramic tile floors, multiple windows, and two entrances. Sitting on a 36 x 100 lot with R5 zoning and 1,332 sq. ft. of unused FAR, it also offers a secure private driveway and yard space that can accommodate 8–10 cars. With low taxes and all free-market tenants, the property delivers a strong 8.03% cap rate and annual income of $139,800 against minimal expenses of $15,282. Currently, two newly renovated units (one three-bedroom and one two-bedroom) are vacant, presenting immediate rental upside. Conveniently located near the A and C trains, bus lines, shopping, and more, this FHA-approved property can be purchased with only 3.5% down for qualified buyers. In mint, move-in condition, this is a rare opportunity to buy, close, and start collecting rent immediately.