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487 E 93rd Street, Brooklyn, NY, 11203 $1,350,000

Commercial For Sale 16 Beds , 5 Full Bath , 3000 SqFt 

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Details ML#: 3568800  

  • Style: Other
  • # of Families: 4
  • Year Built: 1930
  • Taxes: $10,881
  • Status:Active

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, Additional information: Appearance:FAIR

More Property Details

Room Information

Bedroom: 16   Full Bath: 5   Other: 4  

Property Features

Lot Sq Ft: 3000   Approx. Int. Sq. Ft.: 3000.00   Parking Spaces: Yes   Parking Spaces: 2   Parking Facilities: Private, Other  

Appliances & Utilities

Heat: Natural Gas, Baseboard, Steam   A/C: None   Sewer: Other  

Financial

Taxes: $10,881   Maintenance: $1,000  

Local Area Information

School District: Brooklyn Institute For Liberal Arts   Block: 4690   Lot: 22  

Listing Information provided courtesy of Exit Realty First Choice  718-380-2500
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