1637 Nostrand Avenue
$949,000
MLS# RLS20115609 · Flatbush
Originally listed at $945,000. Price last changed on September 22, 2026.
Listed September 16, 2026 · 52 days on the market
12 Beds 6 Baths 5,400 Sq.Ft.
About This Property
Six-family brick walk-up in East Flatbush, half a block from the 2/5 train at Beverly Rd. All six units are 2BR/1BA, 100% occupied and rent-stabilized.
$111,516 gross annual rent. $63,176 NOI. 6.66% cap rate and 8.5x GRM at $949,000 ($158,167 per unit).
The top-floor unit is fully renovated: open kitchen with quartz island and stainless steel appliances. Updated boiler and two hot water heaters. Tax Class 2A, with assessment increases capped at 8% per year and 30% over 5 years. No Local Law 97, no Local Law 11 (FISP), no elevator.
Built for an all-cash or low-leverage buyer who wants stable in-place cash flow on a long-term hold.
Rent roll and expense statement available on request.
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Compass.
The top-floor unit has a fully renovated open kitchen with a quartz island and stainless steel appliances. Because the cooking area is open, a compact apartment can read as one connected space, though cooking, work and downtime share the same room. Buyers who want to avoid neighbors overhead may find a top-floor unit appealing.
The building runs on an updated boiler and two hot water heaters, so the mechanical systems have been addressed. Each of the six units is 2BR/1BA, and all six are currently occupied and rent-stabilized.
The 2 and 5 trains at Beverly Rd are about 2 minutes on foot, half a block from the building. C-Town is about 6 minutes away and Ideal Food Basket about 7, so everyday errands stay close.
The property is taxed under Class 2A, and yearly assessment growth is held to 8 percent, with no more than 30 percent over five years. It also has no Local Law 97 and no Local Law 11 (FISP) obligation noted, and no elevator. The rent roll and expense statement can be requested, and they're the first documents I'd read.
Quick answers+
Does the building have an elevator?
No. It's a brick walk-up with no elevator.
How many units does the building have, and are they occupied?
Six units, each 2BR/1BA. All six are occupied and rent-stabilized.
Does the building have an updated boiler?
Yes. It has an updated boiler and two hot water heaters.
Curtis Bain
Brown Harris Stevens
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$4,799 / month
- Principal and interest$4,799
Due at closing
- Down payment (20%)$189,800
- Mortgage recording tax (1.925%)$14,615
The mansion tax applies to purchases of $1 million or more. Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
Location & Nearby
Map
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1637 Nostrand Avenue
Subway
- 25Beverly RdAbout 2 min walk
- 25Church AvAbout 9 min walk · Accessible
- 25Newkirk Av-Little HaitiAbout 11 min walk
Public schools · Elementary schools
- P.S. 181 BrooklynAbout 5 min walk
- P.S. 399 Stanley Eugene ClarkAbout 6 min walk
- Norma Adams Clemons AcademyAbout 11 min walk
Middle schools
- M.S. 246 Walt WhitmanAbout 7 min walk
- Parkside Preparatory AcademyAbout 19 min walk
High schools
- High School for Youth and Community Development at ErasmusAbout 13 min walk
- Science, Technology and Research Early College High School at ErasmusAbout 13 min walk
Colleges & universities
- SUNY Downstate Health Sciences UniversityAbout 17 min walk
Walking times are estimates. Schools shown are the nearest public and charter schools and are not zone assignments; a nearby school is not necessarily the one an address is zoned for. Confirm zoning with the NYC Department of Education. Sources: MTA, NYC Parks and NYC Department of City Planning open data.
The Neighborhood
About Brooklyn
Flatbush is covered by our Brooklyn guide.
A dynamic borough offering architecturally significant residences, world-class culture, and an unmatched creative energy.
Walkability
9/10
Public transit
8/10
Schools
7/10
Dining
9/10
Groceries & parks
8/10
Gallery
Property Photos
Listing Courtesy of Compass
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.