487 E 93rd ST Active Save Request In-Person Tour Request Virtual Tour
East Flatbush,NY 11203
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $450
MLS Listing ID 3568800
Style Other
Bedrooms 16
Full Baths 5
Originating Board onekey
Rental Info No
Year Built 1930
Annual Tax Amount $10,881
Lot Size 3,049 Sqft
Acres 0.07
Lot Dimensions 30x100
Property Description
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
Location
State NY
County Brooklyn
Rooms
Basement See Remarks
Kitchen 5
Interior
Interior Features Eat-in Kitchen,Entrance Foyer
Heating Natural Gas,Baseboard,Steam
Cooling None
Flooring Hardwood
Fireplace No
Exterior
Garage Private,Other
Fence Fenced
Parking Type Private,Other
Total Parking Spaces 2
Garage false
Building
Lot Description Near Public Transit
Sewer Other
Water See Remarks
Level or Stories Two
Structure Type Other,Brick
New Construction No
Schools
Middle Schools Brooklyn Institute For Liberal Arts
High Schools Brooklyn Academy Of Sci & Environ
School District Brooklyn 17
Others
Senior Community No
Special Listing Condition None