Sold & Closed. 490 Putnam Avenue is a four family brownstone with thoughtful renovations, improvements, and $112,000 of pro-forma gross income. The building is currently configured as four units with three two-bedroom and one-bath units. The garden level is a loft-like one-bedroom one-bath with direct access to the finished basement, configured as a workspace with two offices, a laundry room, a half bath, and storage.
Built in 1915, the home was renovated to the bones approximately ten years ago. The new owners lovingly maintained the property and made additional improvements, including a new stoop and a deck in the garden. The basement has been finished and has a new sump pump and dry well. Also, infrastructure improvements such as tilting the front patio, new doors, drainage pipes, and insulation on the extensions and basement were completed recently.
Located in the Bedford-Stuyvesant section of Brooklyn, Stuyvesant Heights is a row after row of two and three family exquisitely designed townhouses set upon broad tree-lined streets. The area is an almost exclusively residential neighborhood with small businesses and shops serving the community. Local favorites Peaches on Lewis and Saraghina are nearby. Transportation is easy with the Express A/C Utica stop a few blocks away.
Delivered Vacant. Pro-forma income is $112,000 per year. Annual expenses are approximately $9,900 (including insurance). Real Estate taxes are $3,029.