About 363 Neptune Avenue
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
Features of 363 Neptune Avenue
| MLS® # | RLS20053356 |
|---|---|
| Price | $5,100,000 |
| Bathrooms | 0.00 |
| Square Footage | 17,088 |
| Year Built | 1930 |
| Type | Residential |
| Sub-Type | Multi Family |
| Style | Prewar |
| Status | Active |
Community Information
| Address | 363 Neptune Avenue |
|---|---|
| Area | Brooklyn |
| Subdivision | Brighton Beach |
| City | New York City |
| County | Kings |
| State | NY |
| Zip Code | 11235 |
Amenities
| View | City |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Cooling | Central Air |
|---|---|
| Fireplace | No |
Exterior
| Lot Description | 30.00 x 140.00 |
|---|
Additional Information
| Listing Courtesy of | NYC Property Expo, Inc. |
|---|---|
| Date Listed | July 31st, 2025 |
| Days on Market | 106 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | NYC Property Expo, Inc. |
|---|