$10,000 Closing Credit¹
#854000, Listing Office: Baxter Real Estate Inc
$1,288,888 List price
487 E 93rd St Brooklyn, NY 11212
$10,000
Closing credit¹
0 beds
0.07 acres
Multi-Family
Property details
About 487 E 93rd St
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
Highlights
Home typeQuadruplex
HeatingOther
StatusActive
Lot size0.0689 Acres
Year built1930
ParkingDriveway
MLS #853176
Garage1 space
Summary
- Basement: No
- Interior: Other
- Garage Space: 1 space
- Private Pool: No
- Parking: Driveway
- Architectural Style: Other
- Heating: Other
- Cooling: None
- List Price: $1,288,888
- Annual Tax Amount: $11,409
- Tax Year: 2024
- Lot: Back Yard, Paved, See Remarks
- Directions: WAZE / GOOGLE MAP
- Year Built: 1930
- Lot Size: 0.0689 Acres
- MLS Number: 853176
- MLS Name: ONEKEY2
- Office Name: Exit Realty First Choice
- Office Phone: (718) 380-2500
Listings courtesy of OneKey MLS as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.
Information Copyright 2025, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 5/10/2025, 11:56:27 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,288,888
487 E 93rd St
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Apr 04, 2024 | Home Sold | $1,300,000 |
| Dec 22, 2011 | Home Sold | $425,000 |
| May 13, 2010 | Home Sold | $664,112 |
| Jul 26, 2007 | Home Sold | $618,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $188,550 | $11,409 |
| 2023 | $173,250 | $11,089 |
| 2021 | $162,225 | $10,044 |
| 2019 | $157,500 | $9,456 |
| 2018 | $68,234 | $8,035 |
| 2017 | $63,180 | $8,120 |
History based on county public records data.
Nearby schools
5
P.S. 233 Langston Hughes School
Public District KG-5
0.3 mi
•9301 Avenue B
6
New American Academy Charter School (The)
Public Charter KG-5
0.3 mi
•9301 Avenue B
4
P.S. 219 Kennedy-King School
Public District KG-5
0.4 mi
•1060 Clarkson Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $33,625. The majority of Brooklyn, NY residents have income less than $<35k annually. Typical family type is single, no kids. Most residents in this area have high school diploma education.
How much money do the neighbors make?
54%
<35k
42%
35k-100k
4%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
44%
Single, No Kids
31%
Single, with Kids
13%
Married, No Kids
12%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
18%
<11 yrs old
9%
12-17 yrs old
25%
18-34 yrs old
39%
35-64 yrs old
9%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Major League Soccer (MLS)
Mexican League Soccer
Where do the neighbors shop?
H&M
Burlington
Foot Locker
Where do the neighbors go to eat?
Boston Market
White Castle
Popeyes
What do the neighbors drive?
Honda
Kia
Nissan
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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This home is located at 487 E 93rd St in Brooklyn, NY and zip code 11212 in the East Flatbush neighborhood. Features: 0 bedroom, 0 bathroom. It has been listed on Rocket Homes since May 5, 2025 and is currently priced at $1,288,888.
Brooklyn, NY housing market in April 2025 saw over 38 listings sold above listed price, more than 194 sold at listed price and over 146 sold below. The number of homes for sale in Brooklyn, NY increased by 2.3% between March and April 2025. Listings spent 121 days on the market in April 2025, and had a median list price of $994,292 during the same period.
From Rocket Homes Real Estate and based on county public records data.