487 E 93rd Street,Brooklyn, NY 11212
Brooklyn, NY 11212
Description
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 "THIS PROPERTY IS "S IS " TENANTS WONT ALLOW ACCESS 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 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 pricingHigh 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. 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- $10,887INSURANCE-$5,000WATER-$3000GAS-$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: $2,387Leases 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
Details
| MLS # | 983544 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1930 |
| Days On Site | 137 |
| Listing Provided By | Exit Realty First Choice | Steven S. Benshabat |
Features
| SQ Feet | 3,440 |
|---|---|
| Garage | 1 |
| Basement | Y |
| Units | 5 |
| Acreage | 0.07 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Other |
| Interior Features | Other |
Exterior
| Construction Materials | Brick |
|---|---|
| Foundation Details | Brick/Mortar |
| Lot Features | Back Yard, Paved, See Remarks |
| Fencing | Back Yard, Brick |
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Driveway |
Utilities
| Utilities | None |
|---|---|
| Sewer | Other |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Assessed Value | 188550 |
| Tax Annual Amount | 11409.36 |
Area Information
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11212 |
| School District | East Brooklyn Community High Sch |
| Elementary School | Ps 219 Kennedy-King |
| High School | East Brooklyn Community High Sch |
| Listing VS Median (in 11212) | |
Price: $1,150,000 low | high Med: $974,000 sqft: 3,440 low | high Med: 3,280 $ / sqft: $334 low | high Med: $297 On site: 137 low | high Med: 24 | |
Market Activity 11212
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Learn More About This Property
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11212 |
| School District | East Brooklyn Community High Sch |
| Elementary School | Ps 219 Kennedy-King |
| High School | East Brooklyn Community High Sch |
| Listing VS Median (in 11212) | |
Price: $1,150,000 low | high Med: $974,000 sqft: 3,440 low | high Med: 3,280 $ / sqft: $334 low | high Med: $297 On site: 137 low | high Med: 24 | |
