"Turn Key" Multi Family Residential Property 718 Putnam Ave 4 Unit Apartment Building $2,750,000 ($687,500/Unit) 5.81% Cap Rate Brooklyn, NY 11221

718 Putnam Avenue — Brownstone Living with Meaningful Income Potential
A rare opportunity to own a classic Brooklyn brownstone while benefiting from substantial supplemental rental income.
Offered at $2,750,000, 718 Putnam Avenue is a legal four-family brownstone offering exceptional flexibility for an owner-occupant, multi-generational household, or live-plus-income buyer. Combining a spacious owner's residence with three free-market apartments, the property provides the opportunity to significantly offset monthly ownership costs while enjoying the comforts of a private home.
Currently configured with a generously sized owner's garden triplex spanning the lower level, garden, and parlor floors, the residence is complemented by three income-producing apartments above.
Flexible Living for Modern Households
Ideal for multi-generational living, the layout easily accommodates extended family, long-term guests, an au pair or nanny suite, dedicated home offices, or evolving lifestyle needs while maintaining privacy under one roof.
Several leases expire throughout 2026, creating opportunities to gradually expand owner occupancy, reconfigure living arrangements, or reposition rents to market levels. The owner's garden triplex can also be delivered vacant, as it is currently occupied on a month-to-month basis.
All apartments are fully free-market, providing future ownership flexibility without rent-stabilization restrictions.
Current Income Profile
The property currently generates approximately $189,720 in annual gross rental income, creating a meaningful offset to ownership costs while preserving future flexibility.
The owner's triplex is leased at $7,300/month ($87,600 annually) and may be delivered vacant. The remaining apartments generate $2,350, $2,750, and $3,410 per month, respectively.
Thoughtfully Renovated & Operationally Efficient
• Renovated kitchens with updated cabinetry, countertops, tilework, fixtures, and appliances
• Updated bathrooms with modern finishes
• Replaced and refinished flooring
• Contemporary lighting throughout
• Finished lower level incorporated into the owner's triplex
• Professionally hardscaped rear yard
• Rebuilt front stoop
• Individual mini-split heating and cooling systems throughout the building, allowing tenants to pay their own utilities
A Compelling Ownership Opportunity
Whether envisioned as a primary residence with supplemental income, a long-term multi-generational home, or an investment with future owner-occupancy potential, 718 Putnam Avenue offers an exceptional combination of lifestyle, flexibility, income generation, and modernized infrastructure in one of Brooklyn's most desirable brownstone neighborhoods.
Ownership has also proactively addressed historical DOB and public-record references to prior six-family usage. A DOB clarification letter and supporting documentation confirming the property's legal configuration will be included in the due diligence package for qualified purchasers.
Additional Information
Financials, floor plans, virtual tour, and due diligence materials are available at www.718Putnam.com.