Listed by Alpha Realty NY
$4,550,000
363 Neptune Avenue
Details
APN 07260/0111
Property Type Multifamily
Sub Type Apartment Building
Square Footage 17,088
Units 16
Cap Rate 6.70%
NOI $300,504
Occupancy 100%
Tenancy Multi
Price per SqFt $266
Year Built 1930
Buildings 1
Stories 4
Lot Size (SqFt) 4,312.02
Zoning R6, OP
Investment Type Stabilized
Multifamily | 6.70% CAP | 16 Units
Marketing description
363 Neptune Avenue is a fully gut-renovated 16-unit multifamily property located in Brighton Beach, Brooklyn. This 4-story walk-up building features 17,088 square feet of residential space with a 100% free-market rent roll. The property includes 6 two-bedroom, 7 three-bedroom, and 3 three-and-a-half-bedroom units across 43.5 total rooms. Built in 1930 on a 30.67' x 140.6' lot with R6, OP zoning, the building offers a rare combination of complete renovation, free-market rental income, and a strategic coastal location in one of Brooklyn's most sought-after neighborhoods.
Investment highlights
- Unbeatable Transit Access: Located within short walking distance to the Ocean Parkway Station (Q Train), providing a direct and efficient commute into Manhattan
- Neighborhood Amenities: Steps from the world-famous Brighton Beach boardwalk and beach, as well as an eclectic mix of authentic dining, boutique shopping, and local entertainment
- High-Demand Submarket: Brighton Beach continues to see strong rental growth, driven by its unique blend of seaside living and urban accessibility
- 100% Free-Market: The rare combination of a full gut renovation, a 100% free-market rent roll, and a strategic coastal location makes this one of the most competitive multi-family offerings in the current Brooklyn market.
Listing Contacts
Listed by Alpha Realty NY
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$300,504.00
$25,042.00/mo
Valuation Metrics
0
DSCR
6.6%
Cap Rate
6.6%
ROI
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