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241 E 123rd Street #1-7, Manhattan, NY 10035

Manhattan
Local realty services provided by:CENTURY 21 Awaye Realty
241 E 123rd Street #1-7,Manhattan, NY 10035
$2,549,000
  • 7 Beds
  • 7 Baths
  • 3,600 sq. ft.
  • Multi-family
  • Active
Listed by: liam killie
Office: daniel gale of brooklyn llc.
MLS#:RLS20087967
Source:NY_REBNY

Price summary

  • Price:$2,549,000
  • Price per sq. ft.:$708.06

About this home

PRICE IMPROVEMENT – NOW OFFERED AT $2,549,000. 241 East 123rd Street presents the opportunity to acquire a 7-unit multifamily building in the heart of East Harlem at a 5.4% in-place cap rate with projected returns approaching 6.5%. The property features a balanced mix of 4 free-market and 3 rent-stabilized units, providing stable cash flow today with a clear path to future income growth. The asset currently generates approximately $136K in NOI and offers multiple opportunities to increase revenue through unit turnover, rent optimization, and operational improvements. Unit 6 is currently owner occupied and Unit 2 is occupied without a formal lease, creating additional avenues for future value creation. The unit mix includes a desirable garden-level 2-bedroom apartment with full ceiling height and private outdoor space, supporting strong rental demand. Located within an R7B zoning district, the property benefits from additional buildable FAR (buyer to verify), Opportunity Zone...

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Home facts

  • Year built:1910
  • Subdivision & Development:East Harlem
  • Listing ID #:RLS20087967
  • Added:147 day(s) ago
  • Updated:September 25, 2026 at 01:33 PM

Rooms and interior

  • Bedrooms:7
  • Total bathrooms:7
  • Full bathrooms:7
  • Rooms Total:31
  • Basement:Yes
  • Living area:3,600 sq. ft.

Heating and cooling

  • Heating:Oil

Structure and exterior

  • Year built:1910
  • Building area:3,600 sq. ft.
  • Levels:3 Story

Finances and disclosures

  • Price:$2,549,000
  • Price per sq. ft.:$708.06
  • Tax amount:$10,490
MLS LogoThis information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2026 The Real Estate Board of New York, Inc., All rights reserved. RLS Data display by Coldwell Banker Warburg This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. NY_REBNY Member Broker: Arlene Waye

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