487 E 93rd ST Active Save Request In-Person Tour Request Virtual Tour
Brooklyn,NY 11212
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY853176
Style Other
Originating Board onekey2
Rental Info No
Year Built 1930
Annual Tax Amount $11,409
Lot Size 3,001 Sqft
Acres 0.0689
Lot Dimensions 30X100
Property Sub-Type Quadruplex
Property 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
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
Location
State NY
County Kings (brooklyn)
Interior
Interior Features Other
Heating Other
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Garage Spaces 1.0
Utilities Available None
View None
Total Parking Spaces 3
Garage false
Private Pool No
Building
Lot Description Back Yard,Paved,See Remarks
Sewer Other
Water None
Structure Type Brick
Schools
Elementary Schools Ps 219 Kennedy-King
Middle Schools Middle School For Art And Philosophy
High Schools East Brooklyn Community High School
School District Brooklyn 18
Others
Senior Community No
Special Listing Condition None