BEDS16
BATHS17 full
MLS#RLS20065376
STATUSActive
PROPERTY TYPEResidential -
SUBDIVISIONBedford-Stuyvesant
Property Description
496 Putnam Avenue 16 Units 6.78% Cap Rate Offered at $2,299,999
A solid and well-maintained 16-unit rent-stabilized corner building in the heart of Bedford-Stuyvesant, 496 Putnam Avenue presents a rare opportunity to acquire a high-performing, cash-flowing asset in one of Brooklyn's most consistently strong rental markets.
Owned and operated by the same family for over 20 years, the property offers exceptional stability, predictable income, and long-term operational stewardship.
The four-story limestone building features a balanced mix of (8) north-facing studios and (8) south-facing one-bedrooms, all 100% occupied. Units are renovated and upgraded as vacancies occur, ensuring durable tenant demand and sustained rental performance.
Situated on the corner of Putnam Avenue & Throop Avenue, the building benefits from excellent visibility, strong neighborhood foot traffic, and proximity to major retail corridors, transportation, restaurants, and everyday amenities.
Unit Mix
- 16 Units Total
- 8 Studios (north-facing)
- 8 One-Bedrooms (south-facing)
- 100% Occupancy
- All Units Rent-Stabilized
- Gross Monthly Income: $21,658.97
- Annual Gross Income: $259,907.64
- Con Edison: $1,100
- National Grid (Gas): $7,800
- Water/Sewer: $11,000
- Real Estate Taxes: $64,486
- Insurance: $13,503
- Maintenance: $6,000
- Total Operating Expenses: $103,889
- Annual NOI: $156,018.64
- Monthly NOI: $13,001.55
- Cap Rate: 6.78%
- GRM: 8.85
- Price per Unit: $143,750
- Price per SF: $244
Property Features
Property Type: Residential -
Basement: Other
Lot Size: 0.06 Acres
Stories: 4.0
Taxes: $64,488
Year Built: 1900
Amenities
Smoke Free
Private Outdoor Space Over 60 Sqft
Feature Descriptions
Building Features: Green Building
Days on Site: 178
Laundry: Washer Hookup, In Unit
Lot Dimensions: 100.00x26.17
Parcel#: 01830-0036
Patio/Porch: None
Pets Allowed: Building Yes, No
Special View Info: Other
Units: 16
Listed By / Shown By
Listed By
Agency Name: Corcoran Group
Agency Phone: (212) 355-3550
Shown By
Agency Title: Joyce Realty
Agency Phone: (800-275-5692)
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Estimated Payment
$ 11,163.64 per month $5,118.80 Principal & Interest $5,374.00 Property Tax $670.83 Homeowner's InsuranceChange Payment Information
Corporate Headquarters
7 E Central Ave, Unit 15, Pearl River, NY 10965Phone: 800-ASK-JOYCE (800-275-5692)
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496 Putnam Avenue | MLS# RLS20065376
This home located at 496 Putnam Avenue, Brooklyn, NY 11221 is currently listed for sale with an asking price of $2,299,999. This property was built in 1900 and has 16 bedrooms and 17 full baths. Putnam Avenue is located in the Bedford-Stuyvesant subdivision. Search Bedford-Stuyvesant real estate on www.joycerealty.com today.