487 E 93rd Street

East Flatbush, NY 11203
$1,350,000
16 beds | 5 baths | 0.07 acres | #3568800

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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  • Interior Details
    • Interior Features
      • Interior:Eat-in Kitchen, Entrance Foyer
    • Heating & Cooling
      • Heating:Natural Gas, Baseboard, Steam
    • Beds & Baths
      • Bedrooms:16
      • Bathrooms:5
      • Full Baths:5
  • Property Details
    • Property
      • Lot description:Near Public Transit
    • Measurements
      • Acres:0.07
    • Parking
      • Parking features:Private, Other
  • Construction Details
    • Type & Style
      • Property type:Purchase
      • Basement:1
    • Condition
      • Year built:1930
  • Utilities / Energy Details
    • Utility
      • Sewer information:Other
      • Utility source:See Remarks
  • Community and Neighborhood Details
    • Community
      • Community features:Park
    • Location
      • School district:Brooklyn 17
      • Middle School:Brooklyn Institute For Liberal Arts
      • High School:Brooklyn Academy Of Sci & Environ
      • County:Brooklyn
  • Financial Details
    • Pricing Details
      • Original List Price:$1, 399, 999
      • Taxes annual:$10, 881
  • Other
    • Source
      • MLS #:3568800

Location

Keller Williams LandmarkAsk Vinny Thompson team
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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