487 E 93rd Street, Brooklyn, NY

$1,200,000

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12

Beds

3,440

Square feet

0.07

Acres

About 487 E 93rd Street

Legal 4 Family + Legal Basement investment Opportunity *% cap Rate INCREDIBLE INVESTMENT OPPORTUNITY!! PLEASE READ BELOW FOR NOI REPORT Legal 4 family with legal 3 bedroom basement for additional income Exceptional Four-Family Investment Property in East Flatbush Discover an incredible investment opportunity with this well-maintained four-family property in the heart of East Flatbush, Brooklyn. Perfectly suited for investors looking to generate substantial rental income, this property offers a blend of modern amenities and classic charm in a prime location. Property Features: Four Family Units: This property features four spacious and independent family units, each with its own entrance, ensuring privacy and convenience for tenants. Legal Basement Unit: An additional legally finished basement unit adds a fifth income-generating residence, maximizing rental potential. Outdoor Space: A private backyard provides a perfect space for outdoor activities or relaxation. **Recent Upgrades: New Roof: A recently installed roof ensures long-term durability and reduced maintenance costs. New Boiler: A brand-new boiler enhances energy efficiency and ensures comfortable living conditions for tenants. Prime Location: Convenient Access: Located on a quiet, tree-lined street, yet close to major transportation routes, shopping, dining, and entertainment options. Community Amenities: Proximity to local schools, parks, and community centers adds to the appeal for families and tenants. Investment Highlights: Income Potential: With five fully separate units, this property is ideal for investors seeking robust rental income. Free market rentals: As a free market property, the owner has full control over setting rental rates, allowing for flexible and competitive pricing High Demand Area: East Flatbush is a sought-after neighborhood with a strong rental market, ensuring high occupancy rates and rental demand. INVESTMENT OPPORTUNITY ! 8 % CAP RATE ,BROWNSVILLE , FREE MARKET property in East Flatbush/BROWNSVILLE SECTION is a great investment... offering versatility, comfort, and an excellent location. It represents a prime investment opportunity with significant income potential. Don’t miss out on this chance to enhance your real estate portfolio. Contact us today to schedule a viewing! PROPERTY DETAILS: TAXES $9457 • Multi-Family Property • Two-story walk-up • 5 Units • Lot Size: 30 × 100ft • Brand new boiler and plumbing throughout building Expenses: TAXES- $10,887 INSURANCE-$5,000 WATER-$3000 GAS-$3000 (HEAT & HOT WATER ) ELECTRIC-$1500 • Approximately $23,387 CURRENT RENT ROLL: • Apt 1F: $2,040 • Apt 1R: $2,417 • Apt 2F: $3,385 • Apt 2R: $2,387 Leases expire march 2026 current up to date rent roll is $122,748 annual ( without basement included • Basement: $2,500 performa currently vacant • Annual gross Rent Roll: $122,748 NET OPERATING INCOME AFTER EXPENSE $99,361

Features of 487 E 93rd Street

MLS® # 853176
Price $1,200,000
Bedrooms 12
Bathrooms 0.00
Internal Footage 3,440
Square Footage 3000
Acres 0.07
Year Built 1930
Type Residential Income
Sub-Type Quadruplex
Style Other
Status Active

Community Information

Address 487 E 93rd Street
City Brooklyn
County Kings (Brooklyn)
State NY
Zip Code 11212

Amenities

Utilities None
Parking Spaces 3
Parking Driveway
# of Garages 1
View None
Is Waterfront No
Has Pool No

Interior

Interior Features Other
Heating Other
Cooling None
Fireplace No
Has Basement No

Exterior

Lot Description Back Yard, Paved, See Remarks
Construction Brick

School Information

District Brooklyn 18
Elementary Ps 219 Kennedy-King
Middle Middle School For Art And Philosophy
High East Brooklyn Community High School

Additional Information

Date Listed April 24th, 2025
Days on Market 161
Short Sale No
RE / Bank Owned No

Listing Details

Listing Provided Courtesy ofExit Realty First Choice
Contact Info718-380-2500

Listing Map

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