See all 24 photos
24 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listing Courtesy of NYC Property Expo, Inc.
$5,100,000
Est. payment /mo
17,088 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 17,088 sqft
Price per Sqft $298
Subdivision Brighton Beach
MLS Listing ID RLS20053356
Style Prewar,Walk-Up
HOA Y/N No
Year Built 1930
Annual Tax Amount $89,258
Property Sub-Type Multi Family
Property Description
363 Neptune Avenue presents a rare opportunity to acquire a fully occupied 16-unit free-market multifamily building in the heart of Brighton Beach, one of Brooklyn's most resilient and culturally vibrant neighborhoods. The property generates $38,000+ in monthly net rent with upside from expiring concessions, offering investors strong in-place cash flow and near-term value growth.
This four-story walk-up underwent substantial renovations in recent years, delivering modernized units with updated kitchens, baths, and mechanicals. The building features free-market status throughout, enabling future rent growth in line with market appreciation. With a current NOI of $206,319.19 and a pro forma NOI of ~$280,000, 363 Neptune Avenue supports attractive investment metrics at both stabilized and future valuations.
Located near the B and Q subway lines, oceanfront parks, and bustling retail corridors, this asset offers long-term stability, immediate income, and appreciation potential in one of NYC's most established multifamily submarkets.
Highlights:
Free-Market Building – All 16 Units
Fully Renovated with Updated Systems
Strong In-Place Cash Flow
Pro Forma NOI: ~$280k
Fully Occupied | $38K+ Monthly Net Rent
Turnkey Asset | No Deferred Maintenance
Nearby Beach, Transit, and Amenities
This four-story walk-up underwent substantial renovations in recent years, delivering modernized units with updated kitchens, baths, and mechanicals. The building features free-market status throughout, enabling future rent growth in line with market appreciation. With a current NOI of $206,319.19 and a pro forma NOI of ~$280,000, 363 Neptune Avenue supports attractive investment metrics at both stabilized and future valuations.
Located near the B and Q subway lines, oceanfront parks, and bustling retail corridors, this asset offers long-term stability, immediate income, and appreciation potential in one of NYC's most established multifamily submarkets.
Highlights:
Free-Market Building – All 16 Units
Fully Renovated with Updated Systems
Strong In-Place Cash Flow
Pro Forma NOI: ~$280k
Fully Occupied | $38K+ Monthly Net Rent
Turnkey Asset | No Deferred Maintenance
Nearby Beach, Transit, and Amenities
Location
State NY
County Kings
Interior
Cooling Central Air
Equipment Intercom
Fireplace No
Laundry See Remarks
Exterior
View Y/N Yes
View City
Private Pool No
Building
Dwelling Type Multi Family
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 07260-0111
Ownership None
Monthly Total Fees $7, 438
Pets Allowed Building Yes, Yes
Read Less Info
RLS Data display by ACLM Group
GET MORE INFORMATION