$5,100,000
Updated 9 months ago
Off Market

363 Neptune Ave

Brighton Beach, Brooklyn | Brighton 1st Street & Ocean Parkway

17,088 Square FeetMulti-Family

$5,100,000
floors / apts3 / 16
Lot Size30'x140'
Built Size27'x75'
ZoneR6
Building TypeLow-Rise
RE Taxes$89,258
Price Per SF
$298

Listing Features

  • Architectural Dtls
  • Central AC
  • Central Heat

Outdoor space and views

  • City Views

Building Amenities

  • Voice Intercom

Property Description for 363 Neptune Ave

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

Listing History for 363 Neptune Ave

Now
07/31/2025
$5,100,000
Initial Price by Lindsey Bernstein
NYC Property Expo
Launch

Building Details for 363 Neptune Ave

OwnershipMulti-Family
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts3/16
Learn More About the Building

Transit and Citi Bike

Subway

Ocean Pkwy
0.33 miles
Brighton Beach
0.35 miles
Neptune Av
0.43 miles

Contact Agents

Contact Agents

Licensed As
Lindsey Bernstein
Salesperson
License#:
10401390529
Company:
NYC Property Expo
Lindsey Bernstein
NYC Property Expo
Licensed As
Broker
Broker
License#:
10311204478
Company:
NYC Property Expo
Michael Collesano, Esq
NYC Property Expo

Brighton Beach | Brooklyn

Quick Profile

Once known by the nickname “Little Odessa,” due to the large number of Russians and eastern Europeans that settled in the area, Brighton Beach is a delightful seaside town that has a lot to offer its residents. Take a walk through Brighton Beach and find a plethora of traditional ethnic restaurants offering Russian cuisine, as well as food markets where you can find the specialized ingredients to prepare these dishes in your own kitchen.

Brighton Beach provides a much calmer beach and boardwalk experience than nearby Coney Island, and you will find more locals than tourists at the locally owned markets, shops, attractions, and even at the ritzy nightclubs. The area was originally developed as a refuge for the wealthy, so they could flee the heat of the NYC streets. There were luxury hotels and even a racetrack at one time.

Now the area is filled with large apartment buildings, many offering ocean or boardwalk views. The area was immortalized by Neil Simon in his play, Brighton Beach Memoirs. If you walk through the neighborhood, you might get the feeling that you have been transported back to the New York of the 1930s, as the appearance of the neighborhood hasn’t changed all that much in the intervening years.

Living at or near the beach, which is free to the public, offers many opportunities for both relaxation and entertainment. City dwellers are rediscovering this little oceanside gem and are moving into the area in search of affordable housing and a more laid back pace of living. Although it might seem very far from the chaos and noise of Manhattan, there are two subways that make for an easy commute, so it is possible to work in the City and live at the beach.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 102087TH