Renovated Triplex with Private
For Sale
Contact for pricing
115 Neptune Ave, Brooklyn, NY 11235
Legal three-family property with flexible layouts, R6 zoning, and outdoor space for residents.
Property Size1,836 SF
Price / SF$653.05
Days on Market69
Property Features for 115 Neptune Ave
General Information
Standard status
Active
Size
1,836 SF
Property subtype
Multifamily
Zoning
R6
Units
Unit Mix
2 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
private backyard
Building Details
Year Built
1915
Buildings
1
Stories
2
Units
3
Listing Agency:
RE/MAX Real Estate Professionals
Listed By:
Yeugene (Gina) Atayan · License #New York
(718) 532-2000
Source:
Crexi
Added: Aug 15
Changed: Oct 13
Last Checked: Oct 20 at 6:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Real Estate Professionals
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Investment Insights
Based on property information with market context.
Located at 115 Neptune Ave in Brooklyn, this renovated legal three-family property offers a defined unit mix and private outdoor space. The configuration includes two three-bedroom, 1.5-bath apartments and one two-bedroom, one-bath apartment, providing varied residential layouts within the property. The home has a 25-foot-wide lot, R6 zoning, a 1,836 property size, and a 1915 construction date.
The property sits near the boundary of Brighton Beach and Sheepshead Bay, with the Emmons Avenue Promenade nearby. Manhattan Beach and Brighton Beach are also within the surrounding area, along with dining, cafes, and shopping along Emmons and Brighton Beach Avenues. Nearby subway lines and bus routes provide public transportation access.
The property sits near the boundary of Brighton Beach and Sheepshead Bay, with the Emmons Avenue Promenade nearby. Manhattan Beach and Brighton Beach are also within the surrounding area, along with dining, cafes, and shopping along Emmons and Brighton Beach Avenues. Nearby subway lines and bus routes provide public transportation access.
Key Highlights
- Renovated legal three‑family property
- Unit mix includes two 3‑bedroom, 1.5‑bath units and one 2‑bedroom, 1‑bath unit
- Private backyard included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,300
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,286,000
$1.3M
Cap Rate 7%
$918,571
$918.6K
Cap Rate 9%
$714,444
$714.4K
Market Conditions
NOI Build-Up for 1,836 SF
Gross rent
$93.6K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$91.9K $50.03/SF
− OpEx
−$27.6K −$15.01/SF
NOI
$64.3K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,286,000
Cap Rate 7%
$918,571
Cap Rate 9%
$714,444
Alternative Uses
Best Use
Multifamily LT 5
$918.6K
$803.8K – $1.07M
NOI $64,300 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$800.7K
$700.6K – $934.2K
NOI $56,051 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,415 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,826
Businesses Nearby
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Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family property with flexible layouts, R6 zoning, and outdoor space for residents.
Where is this triplex located?
The property is located at 115 Neptune Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Renovated legal three‑family property; Unit mix includes two 3‑bedroom, 1.5‑bath units and one 2‑bedroom, 1‑bath unit; Private backyard included
