PENDING
$100K PRICE DROP
487 E 93rd St Brooklyn, NY 11212
East Flatbush NeighborhoodEstimated payment $7,238/month
Total Views
1,729,288
12
Beds
--
Bath
3,440
Sq Ft
$349
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 REPORT Legal 4 family with legal 3 bedroom basement for additional income Exceptional Four-Family Investment Property in East Flatbush 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 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. 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 building Expenses:
TAXES- $10,887
INSURANCE-$5,000
WATER-$3000
GAS-$3000 (HEAT & HOT WATER )
ELECTRIC-$1500 • Approximately $23,387 CURRENT RENT ROLL: • Apt 1F: $2,040
• Apt 1R: $2,417
• Apt 2F: $3,385
• Apt 2R: $2,387
Leases 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
Exit Realty First Choice Brokerage Phone: 718-380-2500 License #10401319688 Listed on: 05/05/2025
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
Additional Features
- 12 Bedrooms
- 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
Matterport 3D Tour
Floorplans
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/30/2025 10/30/25 | Pending | -- | -- | -- |
| 10/16/2025 10/16/25 | Off Market | $1,200,000 | -- | -- |
| 09/17/2025 09/17/25 | Price Changed | $1,200,000 | -7.7% | $349 / Sq Ft |
| 05/05/2025 05/05/25 | For Sale | $1,299,999 | -- | $378 / Sq Ft |
Source: OneKey® MLS
About the Listing Agent
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
Steven's Other Listings
Source: OneKey® MLS
MLS Number: 853176
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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.
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Copyright 2025 OneKey® MLS. All rights reserved.
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