A forward/rearward slidable and upwardly pivotable armrest supported upon an open center console. Retractable pins associated with inner underside locations of the armrest are displaced upon actuation of a lever component associated with the armrest, and which selectively reseats the armrest at linear travel locations along first and second rails defined upon the side walls of the console. Seating locations established between a slidable and upper support portion of the armrest and the recessed stops defined along inwardly facing surfaces of the rails permit the armrest to be translated to either forward or rearward locations of a center nominal position, relative to a fixed lower carriage with pivot support bracket.