657 Knickerbocker Ave 8 Unit Apartment Building $1,900,000 ($237,500/Unit) 8.43% Cap Rate Brooklyn, NY 11221

OPEN HOUSE: (Sundays) 12 – 1 PM
Rare Corner Brick 8 Family with Garage in Prime Bushwick!
This unique brick 4-story property is located on the corner of Knickerbocker Ave and Putnam Ave in Prime Bushwick. It is 0.5 miles to Halsey St L train station, Irving Square Park and only 1 block to B60 bus stop. It is surrounded by stores, supermarkets, coffee shops, restaurants, and much more.
This pristine corner 4-story brick building offers a unique setup and is an ideal opportunity for an owner-user or savvy investor. It features:
- All units are Rent Stabilized, except Unit 4L (Formerly Rent Controlled)
- Two vacant apartments
- Unit 1R (Rent Stabilized, Vacant): Ideal for owner occupancy. Located adjacent to the garage — potential to combine, expand, or create a duplex with roof deck access. Unlock private outdoor space or build your dream home studio.
- Unit 4L (Formerly Rent Controlled, Vacant): Can be legally renovated for ~$65K–$75K and rented at market rate (~$3,200/mo). Adds $38,400/year to NOI, pushing total income to ~$141K.
- Attached garage with curb cut – use as parking, private studio, or expand your live/work space. Use the curb cut for private parking or delivery access. The garage is leased until May 2027.
- Projected break-even occupancy – with approx. $800K down, your monthly mortgage + taxes are offset by the rental income.
Live for free while your tenants cover your mortgage. This kind of flexible, mixed-use residential setup is increasingly rare in Brooklyn — especially with vacancy, upside, and control already in place.
Lot: 25 x 97.42 ft
Bld: 25 x 65 ft
Zoning: R6
FAR: 2.67; Max FAR: 2.43
Taxes: $24,656/Yr
Don’t Miss this Opportunity!
Call TODAY for a Full Set Up!
Theo Eastwind 718-536-7787
Capri Jet Realty 718-388-2188
*Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.days