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
"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 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.
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
For sale
Price cut: $50K (7/6)
$1,150,000
487 E 93rd Street, Brooklyn, NY 11212
--beds
--baths
3,440sqft
Quadruplex, Multi Family
Built in 1930
-- sqft lot
$-- Zestimate®
$334/sqft
$-- HOA
What's special
Private backyardBrand-new boilerLegal basement unitTwo-story walk-up
- 88 days |
- 218 |
- 1 |
Zillow last checked:
Listing updated:
Listed by:
Exit Realty First Choice 718-380-2500,
Steven S. Benshabat 718-380-2500
Source: OneKey® MLS as distributed by MLS GRID,MLS#: 983544
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Facts & features
Interior
Heating
- Other
Cooling
- None
Features
- Other
- Basement: Finished,See Remarks,Storage Space
- Attic: None
- Has fireplace: No
Interior area
- Total structure area: 3,440
- Total interior livable area: 3,440 sqft
Property
Parking
- Total spaces: 3
- Parking features: Driveway
- Garage spaces: 1
- Has uncovered spaces: Yes
Features
- Fencing: Back Yard,Brick
- Has view: Yes
- View description: None
Lot
- Size: 3,000 Square Feet
- Dimensions: 30 x 100
- Features: Back Yard, Paved, See Remarks
Details
- Parcel number: 046900022
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Quadruplex, Multi Family
Materials
- Brick
- Foundation: Brick/Mortar
Condition
- Actual
- Year built: 1930
- Major remodel year: 1930
Utilities & green energy
- Gas: Separate Gas Meters: 5
- Sewer: Other
- Water: None
- Utilities for property: None
Community & HOA
Location
- Region: Brooklyn
Financial & listing details
- Price per square foot: $334/sqft
- Tax assessed value: $188,550
- Annual tax amount: $11,409
- Date on market: 4/13/2026
- Cumulative days on market: 88 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Tenant pays: Electricity, Gas
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/6/2026 | Price change | $1,150,000-4.2%$334/sqft |
Source:  OneKey® MLS as distributed by MLS GRID #983544 Report a problem | ||
| 4/13/2026 | Listed for sale | $1,200,000$349/sqft |
Source: OneKey® MLS as distributed by MLS GRID #983544 Report a problem | ||
| 10/30/2025 | Pending sale | $1,200,000$349/sqft |
Source: OneKey® MLS as distributed by MLS GRID #853176 Report a problem | ||
| 9/17/2025 | Price change | $1,200,000-6.9%$349/sqft |
Source: OneKey® MLS as distributed by MLS GRID #853176 Report a problem | ||
| 5/5/2025 | Price change | $1,288,888-0.9%$375/sqft |
Source: OneKey® MLS as distributed by MLS GRID #853176 Report a problem | ||
| 3/28/2025 | Price change | $1,299,999-3.7%$378/sqft |
Source: OneKey® MLS as distributed by MLS GRID #L3568800 Report a problem | ||
| 1/10/2025 | Price change | $1,350,000+3.8%$392/sqft |
Source: StreetEasy #S1727290 Report a problem | ||
| 1/5/2025 | Price change | $1,299,999-3.7%$378/sqft |
Source: StreetEasy #S1727290 Report a problem | ||
| 8/21/2024 | Price change | $1,350,000-3.6%$392/sqft |
Source: StreetEasy #1727290 Report a problem | ||
| 7/22/2024 | Listed for sale | $1,400,000+7.7%$407/sqft |
Source: StreetEasy #1727290 Report a problem | ||
| 4/4/2024 | Sold | $1,300,000-11.9%$378/sqft |
Source: Public Record Report a problem | ||
| 12/14/2023 | Listing removed | -- |
Source: My State MLS #11203916 Report a problem | ||
| 9/18/2023 | Price change | $1,475,000+13.5%$429/sqft |
Source: My State MLS #11203916 Report a problem | ||
| 9/3/2023 | Listed for sale | $1,300,000-13.3%$378/sqft |
Source: My State MLS #11203916 Report a problem | ||
| 12/28/2022 | Listing removed | -- |
Source: StreetEasy Report a problem | ||
| 3/23/2022 | Price change | $1,499,9990%$436/sqft |
Source: StreetEasy Report a problem | ||
| 3/9/2022 | Listed for sale | $1,500,000+46.3%$436/sqft |
Source: StreetEasy Report a problem | ||
| 4/28/2020 | Listing removed | $1,800$1/sqft |
Source: NEW FORTUNE REALTY #10729744 Report a problem | ||
| 3/5/2020 | Listed for rent | $1,800$1/sqft |
Source: NEW FORTUNE REALTY #10729744 Report a problem | ||
| 9/4/2017 | Listing removed | $1,025,000$298/sqft |
Source: Marcus & Millichap Report a problem | ||
| 6/6/2017 | Price change | $1,025,000-2.4%$298/sqft |
Source: Marcus & Millichap Report a problem | ||
| 5/5/2017 | Price change | $1,050,000-4.5%$305/sqft |
Source: Marcus & Millichap Report a problem | ||
| 4/21/2017 | Price change | $1,100,000-12%$320/sqft |
Source: Marcus & Millichap Report a problem | ||
| 12/23/2015 | Listed for sale | $1,250,000+78.8%$363/sqft |
Source: EPIC Commercial Realty Report a problem | ||
| 8/29/2013 | Listing removed | $699,000+64.5%$203/sqft |
Source: Keller Williams Landmark II #2562817 Report a problem | ||
| 12/22/2011 | Sold | $425,000-36%$124/sqft |
Source: Public Record Report a problem | ||
| 5/13/2010 | Sold | $664,113+7.5%$193/sqft |
Source: Public Record Report a problem | ||
| 7/26/2007 | Sold | $618,000$180/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,260 +7.5% | $198,900 +5.5% |
| 2024 | $11,409 | $188,550 +8.8% |
| 2023 | -- | $173,250 -3.3% |
| 2022 | -- | $179,100 +10.4% |
| 2021 | -- | $162,225 +3% |
| 2020 | $9,457 +8% | $157,500 +20% |
| 2019 | $8,756 | $131,220 +92.3% |
| 2018 | -- | $68,234 +8% |
| 2017 | $8,036 -1% | $63,180 +0.3% |
| 2016 | $8,114 | $62,985 +8% |
| 2015 | $8,114 +65.7% | $58,320 +8% |
| 2014 | $4,896 | $54,000 +2.9% |
| 2013 | -- | $52,488 +8% |
| 2012 | -- | $48,600 -12.7% |
| 2011 | -- | $55,693 |
| 2010 | -- | $55,693 +3.3% |
| 2009 | -- | $53,922 +7.9% |
| 2008 | -- | $49,952 +8% |
| 2007 | -- | $46,268 +8% |
| 2006 | -- | $42,841 |
| 2005 | -- | $42,841 +3.3% |
| 2004 | -- | $41,479 +7.9% |
| 2003 | -- | $38,425 +8% |
| 2002 | -- | $35,591 +8% |
| 2001 | -- | $32,955 |
| 2000 | -- | $32,955 |
Find assessor info on the county website
Monthly payment
Estimated monthly payment$1,822
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Brownsville
Nearby schools
GreatSchools rating
- 3/10Ps 219 Kennedy KingGrades: PK-5Distance: 0.3 mi
- 5/10Middle School For Art And PhilosphyGrades: 6-8Distance: 0.2 mi
- NAEast Brooklyn Community High SchoolGrades: 9-12Distance: 0.4 mi
Schools provided by the listing agent
- Elementary: Ps 219 Kennedy-King
- Middle: Middle School For Art And Philosophy
- High: East Brooklyn Community High School
Source: OneKey® MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- New York
- Kings County
- New York
- 11212
- Brooklyn
- Brownsville
- 487 E 93rd Street
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