114 W 124TH Street Unit TH

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

The details

Price

$3,285,000

Type

Residential

Status

Active

Bedrooms

8

Bathrooms

4

Interior

4,000 sq ft

Price per sq ft

$821

Year built

1910

County

New York (Manhattan)

MLS #

KEY941969