487 East 93rd Street
$1,350,000
16
5
3,000
3,000
$450
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,...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 Details for 487 East 93rd Street
Township
Brooklyn
Architectural StyleOther
Community FeaturesPark
Garage Spaces.00
Section AreaKings Highway
LISTING UPDATED: 11/02/2024 11:59 PM
Property Details for 487 East 93rd Street
Status | Active |
---|---|
MLS ID | 3568800 |
Days on Market | 114 |
Taxes | $10,881 / year |
Maintenance | - |
Min. Down Pymt | - |
Total Rooms | 25.0 |
Compass Type | Townhouse |
MLS Type | Multi Family |
Year Built | 1930 |
Lot Size | 3,000 SF / 30' x 100' |
County | Kings County |
Building
Building Information for 487 East 93rd Street
Stories2Residences4Year Built1930Building Size21.5' x 80'Building Sq. Ft3,440 SFLot Size3,000 SF / 30' x 100'Building Age-Building Type-
Property Information for 487 East 93rd Street
Property History for 487 East 93rd Street
Date | Event & Source | Price | Appreciation | Link |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 487 East 93rd Street
Taxable ValueLand$14,850Additions$173,700Total$188,550
Home Facts
Total Finished SqFt3,440 SqFtLot Size3,000 SqFtYear Built1930ZoningR6APN3046900022
Schools near 487 East 93rd Street
This home is within Nyc Geog District #18 - Brooklyn.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
P.S. 219 Kennedy King PublicPK to 5 | ||
Middle School For Art And Philosphy Public6 to 8 | ||
East Brooklyn Community High School Public9 to 12 | ||
It Takes A Village Academy Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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