487 E 93rd Street East Flatbush, NY 11203
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
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyBrooklyn
- Taxes$10,881
- HOA/Condo/Coop Fees$0
- Days on Site38 Days
- MLS StatusActive
- MLS ID Number3568800
- Home Size Source N/A
- Year Built1930
- Lot Size0.07 Acres
- Full Baths5
- Partial BathsN/A
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General Features
- Style Other
- Construction OtherBrick
- Parking PrivateOther
- Parking Spaces 2
- Sewer Other
- Basement See Remarks
- Number of Stories 2
- Acreage 0.07
- Water See Remarks
- Cross Street Kings Highway
- Property Sub Type Multi Family
- Garage Spaces 0
- Attached Garage No
- Direction Faces West
Interior Features
- Cooling None
- Heating Natural GasBaseboardSteam
- Flooring Hardwood
- Interior Eat-in KitchenEntrance Foyer
- Fireplaces 0
Exterior Features
- Fencing Fenced
- Lot Near Public Transit
Community Features
- Township Brooklyn
- Community Features Park
- Senior Community No