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487 E 93rd Street
East Flatbush, NY 11203
Residential Multi Family (N/A)
0.07 Acres
3000 Sqft Living Area
16 Bedrooms
5 Bathrooms (5 Full, 0 Half)
Year Built: 1930
$1,399,999
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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
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Contact Details
Name: Steven S Benshabat
Email: slrnyc5@gmail.com
MLS Listing Id: 3568800
Agent Phone: (718) 807-5246
List Agent License:
Office Name: Exit Realty First Choice
Office Phone: (718) 380-2500
Office MLS Id: NOW02
Listing Status: Active
Copyright © 2024 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Copyright © 2024 OpenHous, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
