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About the Listing 38684 - 127609,136339
363 Neptune Αvenuе prеѕеnts a rаrе οpportunity to aсquirе 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
Listing Highlights for 363 Neptune Ave
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances: Intercom
- Air Cond: Central Air
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Building Yes,Yes,Pets Allowed
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 30.00 x 140.00
- Roof:
- Others: Private Outdoor Space Under 60 Sqft
- Sewer:
Financial Details
- Tax Amount: $89,258
- Taxes w/Assessments: N/A
- Tax/Property ID: 07260-0111
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
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363 Neptune Ave New York, NY 11235
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