718 Putnam Avenue #Entire Building Brooklyn, NY 11221
7 Beds
6 Baths
3,100 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,100 sqft
Price per Sqft $870
Subdivision Bedford-Stuyvesant
MLS Listing ID RLS20075930
Bedrooms 7
Full Baths 6
HOA Y/N Yes
Year Built 1910
Annual Tax Amount $10,848
Property Sub-Type Multi Family
Property Description
OFFERED AT $2,699,000
A rare opportunity to own a turnkey, renovated Brooklyn brownstone while benefiting from substantial supplemental rental income.
Offered at $2,699,000, this legal four-family brownstone presents a compelling opportunity for a principal-residence buyer seeking meaningful rental income, a 1031 exchange buyer, or a long-term investor. Thoughtfully updated and move-in ready, the property combines the character and lifestyle of a private Brooklyn brownstone with three additional free-market apartments and significant flexibility for future use.
Currently configured with a generously proportioned owner's garden triplex spanning the lower level, garden, and parlor floors, the home is complemented by three income-producing apartments above. This configuration allows an owner to enjoy substantial private living space while rental income from the additional units helps offset the cost of ownership.
Designed for today's evolving lifestyles, the property can accommodate long-term guests, home offices, multi-generational living, or changing space requirements over time. Several leases expire throughout 2026, creating opportunities to expand owner occupancy, reposition rents, or reconfigure the home. The owner's triplex may also be delivered vacant, as it is currently occupied on a month-to-month basis.
All apartments are fully free-market, providing maximum flexibility without rent-stabilization restrictions.
The property currently generates approximately $189,720 in annual gross rental income. The owner's triplex is leased at $7,300 per month ($87,600 annually), while the remaining apartments generate $2,350, $2,750, and $3,410 per month.
The property has been substantially improved, with renovated kitchens and bathrooms, updated flooring, contemporary lighting, a finished lower level incorporated into the owner's residence, a professionally hardscaped rear garden, rebuilt front stoop, and individual mini-split heating and cooling systems throughout, allowing tenants to pay their own utilities. The result is a turnkey property offering immediate usability and income without the scope of renovation typically associated with a multi-family brownstone.
For a buyer seeking a principal residence with substantial income, 718 Putnam Avenue offers the ability to enjoy renovated brownstone living while generating revenue from the additional apartments. For a long-term investor, its free-market rents, multiple income streams, turnkey condition, and future repositioning flexibility create a compelling foundation for long-term ownership.
718 Putnam Avenue offers a distinctive combination of renovated Brooklyn brownstone character, immediate income, and long-term flexibility—equally suited to living, investing, or a combination of both.
Location
Interior
Cooling Other
Furnishings Unfurnished
Fireplace No
Appliance Dryer, Dishwasher, Washer
Laundry Common On Floor, Common Area, In Unit
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft, Private Yard
View Y/N No
Porch Building Deck, Deck
Private Pool No
Building
Dwelling Type Multi Family,Townhouse
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Tax ID 01650-0033
Ownership None
Monthly Total Fees $904
Pets Allowed Building No, No
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