492 Monroe Street 4FAM
Listing Notes
A rare turnkey investment opportunity in the heart of Bedford-Stuyvesant. This fully renovated four-family brownstone delivers strong in-place income, modern upgrades throughout, and meaningful rent growth upside as several units remain below market all on a quiet, tree-lined block just off the sought-after Lewis Avenue corridor. Each of the four free-market apartments features well-proportioned layouts, hardwood floors, updated kitchens with stainless steel appliances and tile backsplash, renovated bathrooms, and in-unit washer/dryer. Original architectural details including classic fireplace mantles have been thoughtfully preserved, adding character that supports long-term tenant retention and rental stability. The building has been meticulously maintained with upgraded mechanicals and efficient systems, keeping operating expenses lean and ownership hands-off. Gas is paid by tenants, further compressing the expense ratio. With current rents running below market across several units, a new owner captures immediate value-add potential through organic rent optimization on turnover. At the asking price, the in-place financials reflect a compelling cap rate relative to comparable Bed-Stuy multifamily trades, with pro forma NOI providing additional yield compression as rents normalize to market. The low expense load, zero deferred maintenance, and fully occupied rent roll minimize execution risk and support a clean close ideal for a 1031 exchange buyer, passive investor, or institutional portfolio seeking stabilized Brooklyn exposure. Bedford-Stuyvesant continues to attract significant private and public investment, with sustained rent growth, tightening vacancy, and strong buyer demand underpinning long-term appreciation. 492 Monroe Street offers the full package: cash flow today, upside tomorrow, and a basis that works. Select interior photos are virtually staged.
Price in context
Cheaper than 37% of the 24 homes listed nearby right now, which run $1,499,000 to $3,499,555.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 567 Lexington Avenue | $1,499,000 | 4 bd · 3 ba |
| 588 Monroe Street | $1,599,000 | 5 bd · 3 ba |
| 587A Lexington Avenue TWHSE | $1,700,000 | 7 bd · 2 ba |
| 772 Greene Avenue | $1,750,000 | 6 bd · 3 ba |
| 590 Monroe Street HOUSE | $1,750,000 | 4 bd · 5 ba |
| 554 Lexington Avenue | $1,875,000 | 5 bd · 2 ba |
| 464 Quincy Street MULTI | $1,995,000 | 4 bd · 4 ba |
| 613 Jefferson Avenue | $1,999,000 | 3 bd · 4.5 ba |
| 712 Putnam Avenue TWO FAMILIES | $1,999,000 | Studio · 2 ba |
| 262 Marcus Garvey Avenue 4 | $2,000,000 | 11 bd · 4 ba |
| 347 Halsey Street | $2,150,000 | 4 bd · 3 ba |
| 475 Madison Street 4 | $2,199,999 | 4 bd · 4 ba |
| 756 Greene Avenue 1-4 | $2,400,000 | 12 bd · 8.5 ba |
| 904 Lafayette Avenue 2FAM | $2,425,000 | 5 bd · 3.5 ba |
| 479 Hancock Street TWOFAM | $2,550,000 | 5 bd · 5 ba |
| 488A Quincy Street TWNHS | $2,595,000 | 5 bd · 5 ba |
| 582 Quincy Street | $2,599,000 | 5 bd · 5 ba |
| 819 Greene Avenue | $2,695,000 | 5 bd · 5 ba |
| 533A Quincy Street HOUSE | $2,750,000 | 5 bd · 4.5 ba |
| 718 Putnam Avenue | $2,750,000 | 7 bd · 5.5 ba |
| 254 Stuyvesant Avenue | $2,795,000 | 7 bd · 4.5 ba |
| 456 Hancock Street TWNSE | $2,800,000 | 5 bd · 5.5 ba |
| 408 Monroe Street | $3,395,000 | 6 bd · 5 ba |
| 458 Halsey Street 4 | $3,499,555 | 15 bd · 7 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more
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