BEDS8
BATHS4 full
SQUARE FEET4,000
MLS#RLS20062709
STATUSActive
PROPERTY TYPEResidential -
SUBDIVISIONSouth Harlem
Property Description
Turnkey Boutique Four-Unit Luxury Investment
8 Bedrooms 4 Bathrooms 4,000+ SF Free-Market Rents
Presenting 114 West 124th Street, a 19-foot-wide, south-facing townhouse located in prime Harlem, within a Qualified Opportunity Zone and configured with free-market tenancy. Fully renovated from the inside out, this turnkey asset offers flexibility for an end user or investor seeking both income and long-term upside.
The building is configured with four full-floor, two-bedroom residences. The garden and parlor-level apartments provide direct access backyard and patio, offering exceptional indoor-outdoor living. There are also unused air rights, creating future expansion potential and additional value.
A rare opportunity to acquire a fully stabilized, income-producing townhouse in one of Manhattan's most culturally rich and investor-favored neighborhoods.
Investment Overview
- 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 returns approaching 6.5 Cap Rate through optimization strategies.
- Generous Building Scale: Offering over 4,000 square feet of thoughtfully designed living space, highlighted by lofty ceiling heights and well-proportioned layouts across every level.
- 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.
- Wide Townhouse Presence: Approximately 19 feet of street frontage, providing a rare and attractive brownstone profile.
- Private Outdoor Amenity: A sizable rear garden creates a tranquil setting for private use or entertaining - an increasingly valuable feature in the rental market.
- Future Expansion Potential: Significant unused development rights offer flexibility for vertical expansion or unit reconfiguration, including potential conversion to larger three-bedroom layouts or live/work concepts.
- Efficient Operations: Individually metered utilities and modern infrastructure contribute to low operating and management expenses, enhancing net returns.
- Exceptional
Property Features
Property Type: Residential -
Basement: Other
Home Style: Walk-Up
Stories: 4.0
Year Built: 1910
Amenities
Dining Area
Balcony
Private Outdoor Space Over 60 Sqft
Feature Descriptions
Appliances: Washer Dryer Allowed
Days on Site: 208
Laundry: Building None, Washer Hookup, In Unit
Parcel#: 1908-0040
Patio/Porch: Patio, Balcony
Pets Allowed: Building Yes, No
Special View Info: Other
Units: 4
Listed By / Shown By
Listed By
Agency Name: Serhant
Agency Phone: 646-480-7665
Shown By
Agency Title: Joyce Realty
Agency Phone: (800-275-5692)
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Estimated Payment
$ 8,269.11 per month $7,310.99 Principal & Interest $0.00 Property Tax (data not provided by mls) $958.13 Homeowner's InsuranceChange Payment Information
Corporate Headquarters
7 E Central Ave, Unit 15, Pearl River, NY 10965Phone: 800-ASK-JOYCE (800-275-5692)
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114 W 124th Street, Unit TH | MLS# RLS20062709
This home located at 114 W 124th Street, Unit TH, Manhattan, NY 10027 is currently listed for sale with an asking price of $3,285,000. This property was built in 1910 and has 8 bedrooms and 4 full baths with 4000 sq. ft. W 124th Street, Unit TH is located in the South Harlem subdivision. Search South Harlem real estate on www.joycerealty.com today.