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    2289 Adam Clayton Powell Jr Blvd New York, NY 10030

    For Sale
    $3,000,000

    Four-unit, renovated townhouse, high ROI.

    Property size:
    3,764 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    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.

    Property Features for 2289 Adam Clayton Powell Jr Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,764 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1910/2012
    Stories
    4
    Units
    4

    HighLights

    • $3,000,000 asking price for a four‑unit, multifamily investment property.
    • Located at 2289 Adam Clayton Powell Jr Blvd, New York, NY 10030.
    • Value‑add opportunity with a 5.00% cap rate and 100% occupancy.
    • Four units totaling 2,450 net rentable square feet, priced at $750,000 per unit and $797.02 per square foot.
    • Built in 1910, renovated in 2012, featuring four stories and 3,764 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    STUDIO MUSEUM HARLEM Museum GRAND CENTRAL TERMINAL Train Ticket Office

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.943847711567
    Latitude
    40.81496159944

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit, renovated townhouse, high ROI.
    Where is this multifamily property located?
    The property is located at 2289 Adam Clayton Powell Jr Blvd New York, NY.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: $3,000,000 asking price for a four-unit, multifamily investment property.; Located at 2289 Adam Clayton Powell Jr Blvd, New York, NY 10030.; Value-add opportunity with a 5.00% cap rate and 100% occupancy.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2289 Adam Clayton Powell Jr Blvd New York, NY 10030
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