114 W 124th St, New York, NY, 10027

About This Home

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 Harlem Location: situated at the end of the block of Whole 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. Unit Configuration: • Garden Level: 1,000 SF + 420 SF private garden • Parlor Level: 1,000 SF + two private outdoor spaces totaling 650 SF (balcony & patio) • Second Floor: 1,000 SF • Third Floor: 1,000 SF Building Specifications • Year Built: 1910 • Zoning: C4-4 • Lot Size: 1,892 SF • Lot Dimensions: 100.92' x 18.75' • Building Footprint: 18.75' frontage x 46.00' depth • Max Zoning Floor Area: 6,508 SF • Existing Built Area: 2,664 SF • Remaining Development Potential: Approx. 3,844 SF • Compliance Status: Free of any open DOB or municipal violations *All showings are by appointment only, please contact us to schedule a viewing 48hrs in advance. All units are occupied*