Mary Chan
Call: (516) 984-0705
Text: (516) 984-0705
MLS#983544
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLBrooklyn 18
Property Description
Legal 4 Family + Legal Basement investment Opportunity *% cap Rate INCREDIBLE INVESTMENT OPPORTUNITY!! PLEASE READ BELOW FOR NOI REPORTLegal 4 family with legal 3 bedroom basement for additional incomeExceptional Four-Family Investment Property in East Flatbush THIS PROPERTY IS S IS TENANTS WONT ALLOW ACCESS Discover an incredible investment opportunity with this well-maintained four-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 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 pricingHigh Demand Area: East Flatbush is a sought-after neighborhood with a strong rental market, ensuring high occupancy rates and rental demand.INVESTMENT OPPORTUNITY ! 8 % CAP RATE ,BROWNSVILLE , FREE MARKET property in East Flatbush/BROWNSVILLE SECTION is a great investment... offering versatility, comfort, and an excellent location. It represents a prime investment opportunity with significant income potential. Don't miss out on this chance to enhance your real estate portfolio. PROPERTY DETAILS: TAXES $9457 Multi-Family Property Two-story walk-up 5 Units Lot Size: 30 100ft Brand new boiler and plumbing throughout buildingExpenses:TAXES- $10,887INSURANCE-$5,000WATER-$3000GAS-$3000 (HEAT & HOT WATER )ELECTRIC-$1500 A
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Finished, See Remarks, Storage Space
Cooling: None
Garage: 1
Heating: Other
Home Style: Other
Lot Size: 0.07 Acres
Taxes: $11,409
Year Built: 1930
Amenities
Other
Feature Descriptions
Building Area Total: 3440
Cap Rate: 11364
Days on Site: 8
Exterior: Brick
Fencing: Back Yard, Brick
Fuel Expense: 3000
GarageY/N: Yes
Heating Units: 5
Heating Zones: 3
House Faces: East
Lot Dimensions: 30X100
Lot Features: Back Yard, Paved, See Remarks
On Market Date: 2026-04-13
Parcel Number: 04690-0022
Parking Features: Driveway
Parking Total: 3
Rental Term: Monthly
Seller Concession: Yes
Separate Electric Meters: 5
Separate Gas Meters: 5
Sewer: Other
Special View Info: None
Tenant Pays: Electricity, Gas
Units: 5
Utilities: None
Water: None
Local Schools
High School: East Brooklyn Community High School
Middle School: Middle School For Art And Philosophy
Elementary School: Ps 219 Kennedy-King
School District: Brooklyn 18
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Estimated Payment
$ 3,971.43 per month $2,670.68 Principal & Interest $950.75 Property Tax $350.00 Homeowner's InsuranceChange Payment Information
Listed By / Shown By
Listing By
Agency Name: Exit Realty First Choice
Agency Contact: 718-380-2500
Shown By
Agent Name: Mary Chan
Agent Phone: (516) 984-0705
Agency Title: Laffey Real Estate
487 E 93rd Street | MLS# 983544
This multi-family property located at 487 E 93rd Street, Brooklyn, NY 11212 is currently listed for sale with an asking price of $1,200,000. E 93rd Street is located within the Brooklyn 18 school district. Search Brooklyn real estate on marychan.laffey.com today.