487 East 93rd Street,
Brooklyn,
NY
11212
5 FAMILY FOR SALE IN EAST FLATBUSH!!
INCREDIBLE INVESTMENT OPPORTUNITY!!
PROPERTY DETAILS: TAXES $9457
Multi-Family Property
Two-story walk-up
5 Units
Lot Size: 30 x 100ft
Brand new boiler and plumbing throughout building
CURRENT RENT ROLL:
Apt 1F: $2,040
Apt 1R: $2,417
Apt 2F: $3,385
Apt 2R: $2,387
Basement: $2,696
Total Income: $12,985
Yearly Gross Income: $155,820
RENEWAL POTENTIAL:
Apt. 1F can be renewed at $2,960, adding $660 per month or $7,929 per year.
Total Gross Income with renewal: $165,000
EXPENSES:
Approximately $25,000
CAP RATE:
$165,000 (total income) - $25,000 (expenses) = $140,000 Potential Net Income
Approximately 10% CAP RATE
PHENOMENAL DEAL FOR INVESTMENT!
Approximate Expenses:
Real Estate Taxes: $9,457
Water & Sewer: $4,000
Insurance: $2,800
Fuel: $4,800
Electric: $1,000
Total Expenses: $22K
