1299 Putnam Avenue
Newly Rehabilitated 6-Unit Multifamily with Strong In-Place Income
Marketing description
1299 Putnam Avenue presents a compelling opportunity to acquire a newly renovated six-unit multifamily property with strong current income and meaningful long-term upside. Spanning approximately 5,000 square feet, the 25-by-65-foot building underwent a full substantial rehabilitation beginning in 2018, resulting in a new Certificate of Occupancy received in 2020.
The property offers a projected NOI of approximately $192,000 and is being offered at a 6% capitalization rate, providing investors with attractive in-place cash flow supported by recent building-wide improvements. With updated residences, a stabilized income profile, and future growth potential, 1299 Putnam Avenue is well positioned as a strong Brooklyn multifamily investment opportunity.
Investment highlights
1299 Putnam Avenue offers investors a newly renovated six-unit Brooklyn multifamily asset with strong in-place income and meaningful long-term upside potential. Spanning approximately 5,000 square feet with a 25-by-65-foot building footprint, the property underwent a full substantial rehabilitation beginning in 2018 and received a new Certificate of Occupancy in 2020. With an NOI of approximately $192,000 and pricing at a 6% capitalization rate, the property presents attractive current cash flow supported by recent improvements and a completed deregulation strategy.
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