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… Read More 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. Read Less
Listing Courtesy of: Chandra S Golan, Serhant
Listing Snapshot
Days Online
115
Last Updated
Property Type
Apartment
Beds
6
Full Baths
8
Year Built
1910
MLS Number
RLS20082131
Additional Details
Building
Entry Level: 4, Living Area Units: SquareFeet, Rooms Total: 20
Exterior Features
Patio And Porch Features: None
Interior Features
Interior Features: DiningArea
Lot
Parcel Number: 1942-0010
Property
Property Sub Type: Apartment, View YN: t, View: CityLights, City
Taxes
Tax Block: 01942, Tax Lot: 0010
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