6-unit Multifamily | East Flatbush | 9.5% Cap 497 E 93rd St 6 Unit Apartment Building $1,475,000 ($245,833/Unit) 9% Cap Rate Brooklyn, NY 11212

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.