Listing Courtesy of Serhant
$3,285,000
Potential Rebate: $49,275
<p> </p> <p>Turnkey Boutique Four-Unit Luxury Investment</p> <p> 8 Bedrooms 4 Bathrooms 4,000+ SF Free-Market Rents</p> <p>Presenting <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> <p>The 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> <p>A 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 <strong>returns approaching 6.5 Cap Rate</strong> through optimization strategies.</li> <li> Generous Building Scale: Offering over <strong>4,000 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 <strong>19 feet of street frontage</strong>, providing a rare and attractive brownstone profile.</li> <li> Private Outdoor Amenity: <strong>A 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: <strong>Significant 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: <strong>Individually metered utilities</strong> and modern infrastructure contribute to low operating and management expenses, enhancing net returns.</li> <li> Exceptional Harlem Location: <strong>situated at the end of the block of </strong>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.</li> </ul> <p> </p> <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> </p> <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> <p>All showings are by appointment only, please contact us to schedule a viewing 48hrs in advance. All units are occupied</p> <p> </p> <p> </p>
$16,232 per month
30 year fixed, 6.28% Interest
One-time rebate at closing
$49,275
Monthly savings impact
$137/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Serhant
Data Source: TRESTLE #RLS20062709

Compare average listing prices and value metrics for 114 West 124TH Street against the surrounding South Harlem market.
than the South Harlem price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
South Harlem is the gateway to Harlem. For buyers seeking South Harlem Manhattan real estate, it offers prime location.
Living in South Harlem is vibrant. As a Manhattan NYC neighborhood, it connects downtown.
Homes for sale in South Harlem are competitive.
The lifestyle is dining-focused.
B/C/2/3 trains.
Central Park acces.
Commuters.

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