241 East 123rd Street offers a 7-unit multifamily investment opportunity in East Harlem with stable in-place income and defined upside. The property generates approximately $178,680 in gross income with ~$41,917 in operating expenses, resulting in ~$136,763 NOI. Investors have the opportunity to increase NOI to approximately $165K+ through unit turnover and rent alignment. The building consists of 4 free market units and 3 rent-stabilized units, providing a balance of immediate cash flow and long-term growth. A garden-level 2-bedroom unit with full ceiling height and private outdoor space enhances rental positioning and supports above-average rent potential. Zoned R7B, the property offers additional buildable FAR (buyer to verify), creating long-term development optionality. The asset is also located within an Opportunity Zone, providing potential tax advantages. Located near the 4, 5, and 6 subway lines, Metro-North, and key access points including the RFK and Willis Avenue Bridges, the property offers strong connectivity across Manhattan and the outer boroughs. Nearby East River Plaza and surrounding retail further support consistent tenant demand. This is a growth-oriented investment opportunity, well-suited for investors seeking income today with the ability to unlock value over time.