718 Putnam Ave #Entire Building, New York City, NY 11221

Description

TURNKEY BROOKLYN BROWNSTONE WITH EXCEPTIONAL INCOME POTENTIAL
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.