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Listing Courtesy of Serhant
$ 2,895,000
Est. payment | /mo
6 Beds
8 Baths
3,200 SqFt
$ 2,895,000
Est. payment | /mo
6 Beds
8 Baths
3,200 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,200 sqft
Price per Sqft $904
Subdivision Central Harlem
MLS Listing ID RLS20082131
Style Walk-Up
Bedrooms 6
Full Baths 8
HOA Y/N Yes
Year Built 1910
Property Sub-Type Apartment
Property Description
8-Unit Free-Market Brownstone Immediate Upside 6.37% In-Place 8.02% Pro Forma Strivers' Row, Harlem Immediate NOI upside within 60-90 days through near-term lease rollover. 255 West 136th Street presents a rare opportunity to acquire a fully renovated, turn-key 8-unit free-market multifamily asset in the heart of Central Harlem's historic Strivers' Row. This four-story 1910 brownstone combines classic architectural charm with modern upgrades, offering immediate income with strong upside. The property is currently generating a 6.37% in-place cap rate, with a clear path to an 8.02% pro forma cap rate through near-term lease rollover and market alignment. The building features a well-balanced mix of studio and one-bedroom residences, all thoughtfully updated with: Hardwood flooring and high ceilings Renovated kitchens with stainless steel appliances Modern bathrooms Central heating and cooling On-site laundry for additional tenant convenience This Brownstone townhouse is 100% free-market and benefits from low operating expenses, making it an ideal long-term hold or yield-driven investment. With leases expiring in the coming months, an investor can begin increasing rents almost immediately, accelerating NOI growth and achieving pro forma performance within a short timeframe. Located on a quiet, tree-lined block within the Strivers' Row Historic District, the property is surrounded by strong rental demand and is moments from major transportation, parks, dining, and cultural institutions-ensuring continued tenant appeal and long-term value growth. Investment Highlights: 8 Free-Market Units (No Rent Stabilization) 6.37% Current Cap Rate 8.02% Pro Forma Cap Rate Immediate Mark-to-Market Opportunity Turnkey, Renovated Asset Strong In-Place Income with Near-Term Upside Prime Central Harlem Location Why This Deal Stands Out: Opportunities to acquire fully free-market, renovated brownstones in Manhattan at a 6.4% current yield with a clear path to 8%+ are extremely limited-especially with this level of near-term control over income growth. A rare chance to secure a cash-flowing asset with immediate yield and strong forced appreciation potential. Viewings by appointment only. Full financials and offering memorandum available upon request.
Location
State NY
County New York
Rooms
Basement Other
Interior
Interior Features Dining Area
Fireplace No
Laundry Building None
Exterior
Exterior Feature None
View Y/N Yes
View City Lights, City
Porch None
Private Pool No
Building
Story 4
New Construction No
Others
Tax ID 1942-0010
Ownership Rental Building
Special Listing Condition Standard
Pets Allowed Building No, No
RLS Data display by WJFNY