114 W 124th Street Th,New York City, NY 10027
New York City, NY 10027
Description
pTurnkey Boutique Four-Unit Luxury Investment/p p 8 Bedrooms 4 Bathrooms 4,000+ SF Free-Market Rents/p pPresenting strong 114 West 124th Street/strong, a strong 19-foot-wide, south-facing townhouse/strong located in strong prime Harlem/strong, within a strong Qualified Opportunity Zone/strong and configured with strong free-market tenancy/strong. Fully renovated from the inside out, this turnkey asset offers flexibility for an end user or investor seeking both income and long-term upside./p pThe building is configured with four full-floor, two-bedroom residences. The strong garden and parlor-level apartments/strong provide direct access strong backyard and patio/strong, offering exceptional indoor-outdoor living. There are also strong unused air rights/strong, creating future expansion potential and additional value./p pA rare opportunity to acquire a strong fully stabilized, income-producing townhouse/strong in one of Manhattan's most culturally rich and investor-favored neighborhoods./p p Investment Overview/p ul li Stabilized Luxury Asset: Well maintained, free-market multifamily townhouse featuring four fully leased residences. The property currently operates at an approximate 4.5 Cap Rate, with a clear path to enhanced strongreturns approaching 6.5 Cap Rate/strong through optimization strategies./li li Generous Building Scale: Offering over strong4,000 square feet/strong of thoughtfully designed living space, highlighted by lofty ceiling heights and well-proportioned layouts across every level./li li Premium Interior Buildout: Residences showcase refined materials and modern systems, including hardwood flooring, exposed brick elements, contemporary HVAC climate control, chef-caliber kitchens with high-end appliances, and in-unit laundry in every apartment./li li Wide Townhouse Presence: Approximately strong19 feet of street frontage/strong, providing a rare and attractive brownstone profile./li li Private Outdoor Amenity: strongA sizable rear garden/strong creates a tranquil setting for private use or entertaining - an increasingly valuable feature in the rental market./li li Future Expansion Potential: strongSignificant unused development rights/strong offer flexibility for vertical expansion or unit reconfiguration, including potential conversion to larger three-bedroom layouts or live/work concepts./li li Efficient Operations: strongIndividually metered utilities/strong and modern infrastructure contribute to low operating and management expenses, enhancing net returns./li li Exceptional Harlem Location: strongsituated at the end of the block of /strongWhole Foods and the 2/3 express subway, with the Apollo Theater two blocks away. Surrounded by Lenox Avenue's dining and cultural corridor, tree-lined brownstone streets, Marcus Garvey Park, and close proximity to Central Park, this location combines daily convenience with long-term demand drivers./li /ul p Unit Configuration:/p ul li strong Garden Level:/strong 1,000 SF + 420 SF private garden/li li strong Parlor Level:/strong 1,000 SF + two private outdoor spaces totaling 650 SF (balcony & patio)/li li strong Second Floor:/strong 1,000 SF/li li strong Third Floor:/strong 1,000 SF/li /ul p Building Specifications/p ul li strong Year Built:/strong 1910/li li strong Zoning:/strong C4-4/li li strong Lot Size:/strong 1,892 SF/li li strong Lot Dimensions:/strong 100.92' x 18.75'/li li strong Building Footprint:/strong 18.75' frontage x 46.00' depth/li li strong Max Zoning Floor Area:/strong 6,508 SF/li li strong Existing Built Area:/strong 2,664 SF/li li strong Remaining Development Potential:/strong Approx. 3,844 SF/li li strong Compliance Status:/strong Free of any open DOB or municipal violations/li /ul pAll showings are by appointment only, please contact us to schedule a viewing 48hrs in advance. All units are occupied/p
Details
| MLS # | RLS20062709 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1910 |
| Days On Site | 284 |
| Listing Provided By | Serhant | Natalia Rawska |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 4,000 |
| Story(s) | 4 |
| Units | 4 |
| Property View | Yes |
Interior
| Rooms Total | 12 |
|---|---|
| Cooling Yes / No | No |
| Appliances | Dishwasher, Washer Dryer Allowed |
| Interior Features | Dining Area, High Ceilings |
| Fireplace Yes / No | No |
| Laundry Features | Building None, Washer Hookup, In Unit |
Exterior
| Exterior Features | Balcony, Garden, Private Outdoor Space Over60Sqft |
|---|---|
| Patio And Porch Features | Patio, Balcony |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Block | 01908 |
|---|---|
| Tax Lot | 0040 |
Area Information
| State | NY |
|---|---|
| County | New York |
| City | New York City |
| Zip Code | 10027 |
| Area | Manhattan |
| Community Name | South Harlem |
| Listing VS Median (in South Harlem) | |
Price: $3,285,000 low | high Med: $1,179,000 sqft: 4,000 low | high Med: 1,316 $ / sqft: $821 low | high Med: $895 On site: 284 low | high Med: 102 | |
Market Activity 10027
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Learn More About This Property
| State | NY |
|---|---|
| County | New York |
| City | New York City |
| Zip Code | 10027 |
| Area | Manhattan |
| Community Name | South Harlem |
| Listing VS Median (in South Harlem) | |
Price: $3,285,000 low | high Med: $1,179,000 sqft: 4,000 low | high Med: 1,316 $ / sqft: $821 low | high Med: $895 On site: 284 low | high Med: 102 | |
