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487 E 93rd Street Brooklyn, NY 11203
$1,350,000
  • For Sale
  • 16 Bedrooms
  • 5 Full Baths
  • 3000 SqFt
  • Year Built 1930
  • Commercial
  • ML# 3568800

Property Details

Overview

Legal 4 family with legal 3 bedroom basement for additional income! Discover an incredible investment opportunity with this well-maintained five-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. PROPERTY DETAILS: TAXES $9457 ? Multi-Family Property ? Two-story walk-up ? 5 Units ? Lot Size: 30 ? 100ft ? Brand new boiler and plumbing throughout building CURRENT RENT ROLL: ? Apt 1F: $2, 040 ? Apt 1R: $2, 417 ? Apt 2F: $3, 385 ? Apt 2R: $2, 387 ? Basement: $2, 696 ? Total Income: $12, 985 ? Yearly Gross Income: $155, 820 EXPENSES: ? Approximately $25, 000 CAP RATE: ? $165, 000 (total income) - $25, 000 (expenses) = $140, 000 Potential Net Income, Additional information: Appearance:FAIR

Key Facts

  • SqFt: 3000.00
  • Style: Other
  • Lot Sq Ft: 3000
  • Taxes: $10,881
  • School District: Brooklyn Institute For Liberal Arts
  • Block: 4690
  • Lot: 22

Additional Features

  • Construction Materials: Other, Brick
  • Interior Features: 
    Eat-in Kitchen, Entrance Foyer
  • Parking Spaces: Yes
  • Parking Spaces: 2
  • Parking Facilities: Private, Other
  • Wood Floors: Yes

Rooms & Floor Plans

  • Bedroom: 16
  • Full Bath: 5
  • Other: 4

Interior & Utilities

  • Heat: Natural Gas, Baseboard, Steam
  • A/C: None
  • Sewer: Other

Financial

  • Taxes: $10,881
  • Maintenance: $1,000
Listing Information provided courtesy of Exit Realty First Choice  718-380-2500
OneKey™ MLSThe source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. Information Copyright 2020, OneKey™ MLS