497 E 93rd St - Apartments FOR SALE


Brooklyn, NY 11212- East Flatbush
$1,475,000 USD
212-658-0979
497 E 93rd St, Brooklyn, NY for Sale
$1,475,000 USD
Apartments - FOR SALE
1/3
null | 9% Cap Rate

497 E 93rd St
Brooklyn, NY 11212
East Flatbush


HIGHLIGHTS

  • 3-story walk-up building consisting of 6 apartments
  • Protected Tax Class 2A and There is a J51 through 2052
  • The building is in immaculate condition
  • The building has value-add potential due to high legal rents and 1,860 SF of unused Air Rights available
  • The property is located in the East Flatbush section of Brooklyn, near shopping, dining and entertainment options
  • Within walking distance to the Saratoga Avenue Station (2, 3, 4 and 5 trains)

OVERVIEW

Presented by Alpha Realty. this offering presents an opportunity to acquire a 3-story walk-up building in Brooklyn’s East Flatbush neighborhood. The property features six residential apartments spread across approximately 5,440 square feet, situated on a 30' x 100' lot. It is designated as a protected Class 2A tax property, offering long-term tax benefits for investors. Positioned within walking distance of the Saratoga Avenue subway station, the building provides easy access to the 2, 3, 4, and 5 train lines, connecting residents to major employment hubs in Manhattan and throughout Brooklyn. With proximity to Linden Boulevard and Church Avenue, this property benefits from surrounding retail, dining, and local conveniences that enhance tenant demand. The building is currently in excellent condition and has significant value-add potential, supported by strong legal rents and 1,860 square feet of available air rights for future expansion. Additionally, the J51 tax abatement in place through 2052 provides an advantage for reducing operational expenses and improving cash flow. This asset is poised to deliver stable income with opportunities for long-term appreciation, making it a strong addition to any multifamily investment portfolio.

FOR SALE DETAILS

PRICE

$1,475,000 USD

PRICE/SF

$307 USD /SF

# OF UNITS

6

PRICE/UNIT

$245,833

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6-unit Multifamily | East Flatbush | 9.5% Cap

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,006 SF

ZONING

R6

APN/PARCEL ID

04690-0018

ASK ABOUT THIS PROPERTY

Lev MavashevAlpha RealtyMore Info
212-658-0979

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Lev MavashevAlpha RealtyMore Info
212-658-0979

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.