2268 Adam C Powell Boulevard - Multi-Family FOR SALE


New York, NY 10030- Central Harlem
$2,550,000 USD
212-430-5136
2268 Adam C Powell Boulevard, New York, NY for Sale
$2,550,000 USD
Multi-Family - FOR SALE
1/11
null | 8% Cap Rate

2268 Adam C Powell Boulevard
New York, NY 10030
Central Harlem


OVERVIEW

The New York Multifamily team at Marcus & Millichap is pleased to offer 2268 Adam Clayton Powell Jr.? Boulevard, located in the lively neighborhood of West Harlem.? Spanning 6,355 square feet, this 9-unit mixed-use property is ideally situated between West 133rd and West 134th Street.? 2268 Adam Clayton benefits from a highly visible ground-floor retail space leased to Harlem Hops, a popular neighborhood brewery.? Future investors can also capitalize on the 33% free market value-add component.? Additionally, this tax-class-protected (2B) asset has been meticulously maintained and professionally managed by the same ownership for 8 years.? The building is conveniently located near the 135th Street Subway Station, St.? Nicholas Park, and Public School 92.? • ?The Metrics: 7.97% Cap Rate | 8.6x GRM • ?Established Retail: 2268 Adam Clayton Powell Blvd benefits from a prominent ground-floor retail space occupied by Harlem Hops, an established brewery. The tenant currently pays $6,450 per month. • ?Renovation: 5 of the apartments have been fully renovated, and upgrades to the common areas have been recently completed. • ?Tax Class 2B: The Building benefits the protected tax class 2B designation which limited your tax increases to 8% per year of 30% over 5 years.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$401 USD /SF

# OF UNITS

9

PRICE/UNIT

$283,333

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2268 Adam Clayton Powell Jr Boulevard

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R7-2

APN/PARCEL ID

1939-0032

ASK ABOUT THIS PROPERTY

Seth GlasserMarcus & MillichapMore Info
212-430-5136

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Seth GlasserMarcus & MillichapMore Info
212-430-5136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.