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487 E 93rd Street

East Flatbush, NY 11203
  • $1,350,000
  • STATUS: Active
  • MLS #: 3568800
UPDATED: 8 min ago
$1,350,000
  • 16
    BEDS
  • 0.07
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 3,000
    SQFT
  • $450
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1930
County:
Area:

School Information

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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© 2024 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or This Old Hudson Team at Houlihan Lawrence. Data last updated: 2024-11-06T15:18:57.117.
www.thisoldhudsonrealestate.com/homes/153063671
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487 E 93rd Street East Flatbush, NY 11203

  • Price: $1,350,000
  • Status: Active
  • On Site: Days
  • Updated: 8 min ago
  • MLS #: 3568800
16
Beds
5
Baths
0
½ Baths
0.07
Acres
3,000
SQFT
$450
$/SQFT
1930
Built
Neighborhood:
Brooklyn
County:
Brooklyn
Area:
Brooklyn
Middle School:
Brooklyn Institute For Liberal Arts
High School:
Brooklyn Academy Of Sci & Environ
School District:
Brooklyn 17
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
Exterior Features

Architectural Style Other Attached Garage YN No Construction Materials OtherBrick Cross Street Kings Highway Direction Faces West Fencing Fenced Levels Two Lot Features Near Public Transit Parking Features PrivateOther Parking Total 2 Property Attached YN Yes

Interior Features

Basement Details See Remarks Common Walls 1 Common Wall Cooling None Cooling YN No Fireplaces Total 0 Flooring Hardwood Heating Natural GasBaseboardSteam Hot Water Gas Stand Alone Interior Features Eat-in KitchenEntrance Foyer Number Of Heating Zones 3 Number Of Kitchens 5 Rooms Total 25

Property Features

Building Size 3400 Community Features Park Lease Considered YN No Maintenance Expense 1000 MLSArea Minor 13 New Construction YN No Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 4 Owner Pays Insurance Property Condition FAIR Property Sub Type Multi Family Senior Community YN No Sewer Other Tax Annual Amount 10881 Tax Annual Amount1 10881 Tenant Pays Cooking GasElectricitySee Remarks Water Source See Remarks

Listing courtesy of Steven Benshabat of Exit Realty First Choice: 718-380-2500
© 2024 OneKey MLS. All rights reserved.


© 2024 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or This Old Hudson Team at Houlihan Lawrence. Data last updated: 2024-11-06T15:18:57.117.
 
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