The victim had his hands bound with rope and duct tape was put over his mouth during the robbery at a house in Bellshill.
Martin Gibb (42), of Auldhame Street, Coatbridge, appeared at Hamilton Sheriff Court and admitted assaulting and robbing Ryan Downie at an address in Bellshill. It happened in December 2015.
Gibb and an unknown accomplice went into the house in Bridgeford Avenue “uninvited”, said the prosecution.
Mr Downie was punched and forced to the ground. The pair demanded the code for a safe before stealing the cash.
Gibb was charged originally with stealing £1,500, but admitted taking the reduced sum.
Sheriff Thomas Millar called for background reports on Gibb whose record disclosed only one traffic conviction.
Sentence was deferred until next month for background reports and the accused had his bail continued.