2289 Adam Clayton Powell Jr BlvdNew York, NY 10030

Property Details for 2289 Adam Clayton Powell Jr Blvd

Year built

1910

Property size (Sq ft)

3,764 SF

Property type

Residential income homes

Description

This four-unit, Class B multifamily property located at 2289 Adam Clayton Powell Jr Blvd, New York, NY 10030, presents a compelling value-add investment opportunity. The 3,764 square foot building, constructed in 1910 and renovated in 2012, sits on a 956 square foot lot and boasts 2,450 square feet of net rentable space. Currently operating at 100% occupancy, the property offers four units, each with a price point of $750,000, for a total asking price of $3,000,000. The property features a 5.00% cap rate and a price per square foot of $797.02. Zoned R7-2, C1-4, the building is a four-story structure with high ceilings and large windows, offering excellent natural light. Its prime location in central Harlem provides effortless access to public transportation, being just one block from the 2/3 and B/C subway lines. Low annual property taxes of $1,500 further enhance its investment appeal. The property's strong rental income potential is amplified by its suitability for both long-term and short-term rentals, including Airbnb. This unique property offers a blend of residential and commercial potential, making it an exceptional opportunity for discerning investors seeking immediate returns and long-term growth.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.815

Longitude

-73.9438

FAQs

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