8-Unit Free-Mаrket Βrownѕtonе Ιmmеdiate Upsіdе 6.37% Ιn‐Plаce 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.