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363 Neptune Ave 16 Unit Apartment Building $7,027,698 CAD ($439,231 CAD/Unit) 4.05% Cap Rate Brooklyn, NY 11235
Investment Highlights
- The building features free-market status throughout, enabling future rent growth in line with market appreciation.
- Fully occupied 16-unit free-market multifamily building in the heart of Brighton Beach.
- Recent renovations include updated kitchens, baths, and mechanicals, ensuring low maintenance and tenant appeal.
- Located near the B and Q subway lines, oceanfront parks, and bustling retail corridors.
- Situated in one of Brooklyn’s most resilient and culturally vibrant neighborhoods.
- Rare opportunity for investors seeking both immediate income and growth.
Executive Summary
1363 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 ~$287,109, 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.
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,027,698 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $439,231 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 4.05% | Building Size | 17,088 SF |
| No. Units | 16 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1909/2020 |
| Zoning | R6 - Medium density residential district | ||
| Price | $7,027,698 CAD |
| Price Per Unit | $439,231 CAD |
| Sale Type | Investment |
| Cap Rate | 4.05% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 17,088 SF |
| Average Occupancy | 0% |
| No. Stories | 4 |
| Year Built/Renovated | 1909/2020 |
| Zoning | R6 - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Hardwood Floors
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $3,092 CAD | 1 |
| Studios | 5 | $3,143 CAD | 1 |
| Studios | 1 | $4,203 CAD | 1 |
| 1+2 | 3 | $3,608 CAD | 1 |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 07260-0111 | Total Assessment | $1,083,299 CAD (2026) |
| Land Assessment | $133,940 CAD (2026) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $949,359 CAD (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
07260-0111
Land Assessment
$133,940 CAD (2026)
Improvements Assessment
$949,359 CAD (2026)
Total Assessment
$1,083,299 CAD (2026)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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363 Neptune Ave
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