$1,288,888
$11K PRICE DROP

487 E 93rd St Brooklyn, NY 11212

East Flatbush Neighborhood

Estimated payment $7,818/month

Total Views 1,463,660
-- Bed
-- Bath
3,440 Sq Ft
$375 Price per Sq Ft

Highlights

  • East Facing Home
  • Paved or Partially Paved Lot
  • Back Yard

About This Home

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 FlatbushDiscover 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 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 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. Contact us today to schedule a viewing!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• Approximately $23,387CURRENT RENT ROLL:• Apt 1F: $2,040• Apt 1R: $2,417• Apt 2F: $3,385• Apt 2R: $2,387Leases expire march 2026 current up to date rent roll is $122,748 annual ( without basement included• Basement: $2,500 performa currently vacant• Annual gross Rent Roll: $122,748 NET OPERATING INCOME AFTER EXPENSE $99,361

Listing Agent

Steven Benshabat

Exit Realty First Choice Brokerage Phone: 718-380-2500 License #10401319688 Listed on: 05/05/2025

Exit Realty First Choice

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,409

Year Built

  • Built in 1930

Lot Details

  • 3,000 Sq Ft Lot
  • Lot Dimensions are 30x100
  • East Facing Home
  • Paved or Partially Paved Lot
  • Back Yard

Parking

  • 1 Car Garage
  • Driveway

Home Design

  • Quadruplex
  • Brick Exterior Construction

Schools

  • Ps 219 Kennedy-King Elementary School
  • Middle School For Art And Philosophy
  • East Brooklyn Community High School

Utilities

  • No Cooling

Listing and Financial Details

  • Assessor Parcel Number 04690-0022

Community Details

Overview

  • 5 Units

Building Details

  • 6 Separate Electric Meters
  • 5 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,409

Year Built

Built in 1930

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Architectural Style: Other
  • Property SubType: Quadruplex
  • Property Condition: Actual
  • Year Built: 1930
  • Year Built Effective: 1930
  • Attribution Contact: 718-380-2500
  • Co List Office Mls Id: KEYNOW02
  • Co List Office Phone: 718-380-2500
  • Carport Y N: No
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 1930

Interior Features

  • Interior Amenities: Other
  • Basement YN: No

Exterior Features

  • Direction Faces: East
  • Construction Materials: Brick
  • Pool Private: No
  • Spa: No
  • View: None
  • Waterfront: No

Garage/Parking

  • Total Parking Spaces: 3
  • Garage Spaces: 1
  • Garage: No
  • Parking Description: Driveway

Utilities

  • Cooling: None
  • Heating: Other
  • Sewer: Other
  • Utilities: None
  • Water Source: None

Condo/Co-op/Association

  • Senior Community: No

Fee Information

  • Operating Expense: 23837
  • Annual Water Sewer Expense: 3000

Schools

  • Middle School: Middle School For Art And Philosophy

Lot Info

  • Lot Size Acres: 0.0689
  • Lot Dimensions: 30X100
  • Lot Size Sq Ft: 3000
  • Building Area Total: 3440
  • Lot Features: Back Yard, Paved, See Remarks
  • Parcel Number: 04690-0022
  • Property Attached: No

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Fuel Expense: 3000
  • Units Total: 5
  • Separate Electric Meters: 6
  • Separate Gas Meters: 5
  • Insurance Expense: 5000

Tax Info

  • Tax Annual Amount: 11409.36
  • Tax Year: 2024

MLS Schools

  • Elementary School: Ps 219 Kennedy-King
  • High School: East Brooklyn Community High School

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/05/2025 05/05/25 For Sale $1,299,999 -- $378 / Sq Ft
Source: OneKey® MLS

About the Listing Agent

Steven Benshabat
Steven Benshabat

Exit Realty First Choice

(929) 600-6512

Section Image

With an illustrious career spanning back to 2003, Steven Benshabat is a seasoned professional specializing in development, property management, and residential/commercial sales and rentals. His expertise extends across thriving neighborhoods such as Bed-Stuy, Fort Greene, Williamsburg, Queens Fresh Meadows, Hollis Hills, and Jamaica Estates, covering the vibrant landscape of Brooklyn, Queens, and Long Island (Nassau). Embodying the philosophy of "Work Smart, Not Hard," Steven has consistently

View Steven's Profile

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Source: OneKey® MLS

MLS Number: 853176

OneKey® MLS
New York Kings County Brooklyn 11212 East Flatbush

487 E 93rd St, Brooklyn, NY

This home is located at 487 E 93rd St, Brooklyn, NY 11212 and is currently priced at $1,288,888, approximately $374 per square foot. This property was built in 1930. 487 E 93rd St is a home located in Kings County with nearby schools including P.S. 219 Kennedy King, Middle School For Art And Philosphy, and New American Academy Charter School.

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OneKey® MLS The data relating to real estate for sale or lease on this web site comes in part from OneKey® MLS. Real estate listings held by brokerage firms other than Ten-X are marked with the OneKey® MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
Copyright 2025 OneKey® MLS. All rights reserved.

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Steven Benshabat
Steven Benshabat
Listing Agent Section Image
Exit Realty First Choice
(929) 600-6512