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497 E 93rd St
Brooklyn, NY 11212
Multifamily Property For Sale
·
6 Units
Investment Highlights
- 3-story walk-up building consisting of 6 apartments
- The building is in immaculate condition
- The property is located in the East Flatbush section of Brooklyn, near shopping, dining and entertainment options
- Protected Tax Class 2A and There is a J51 through 2052
- The building has value-add potential due to high legal rents and 1,860 SF of unused Air Rights available
- Within walking distance to the Saratoga Avenue Station (2, 3, 4 and 5 trains)
Executive Summary
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.
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.
Property Facts
| Price Per Unit | $275,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.07 AC |
| No. Units | 6 | Building Size | 4,800 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1930 |
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Medium density residential district | ||
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 4,800 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6 - Medium density residential district |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | 1,160 |
Property Taxes
| Parcel Number | 04690-0018 | Improvements Assessment | $320,850 |
| Land Assessment | $5,400 | Total Assessment | $326,250 |
Property Taxes
Parcel Number
04690-0018
Land Assessment
$5,400
Improvements Assessment
$320,850
Total Assessment
$326,250
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