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2268 Adam Clayton Powell Jr Boulevard 2268 Adam Clayton Powell Jr Blvd 9 Unit Apartment Building $3,617,634 CAD ($401,959 CAD/Unit) 8% Cap Rate New York, NY 10030
Investment Highlights
- Fully leased 9-unit property with eight apartments and a ground-floor retail tenancy by Harlem Hops.
- Five renovated apartments and recent common area improvements reduce capital obligations.
- Located steps from the 135th Street Subway Station with 2/3 train service for exceptional transit access.
- Established brewery tenant paying $6,450 per month enhances income reliability.
- Protected Tax Class 2B status limits annual tax increases, supporting long-term financial stability.
- Positioned in the dynamic West Harlem submarket near cultural, retail, and green space amenities.
Executive Summary
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.
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.
Property Facts
| Price | $3,617,634 CAD | Property Subtype | Apartment |
| Price Per Unit | $401,959 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8% | Lot Size | 0.04 AC |
| Gross Rent Multiplier | 8.6 | Building Size | 6,355 SF |
| No. Units | 9 | No. Stories | 5 |
| Property Type | Multifamily | Year Built/Renovated | 1910/1954 |
| Zoning | R7-2 - Medium-Density Apartment House District with Lower Parking Requirements. | ||
| Price | $3,617,634 CAD |
| Price Per Unit | $401,959 CAD |
| Sale Type | Investment |
| Cap Rate | 8% |
| Gross Rent Multiplier | 8.6 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,355 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1910/1954 |
| Zoning | R7-2 - Medium-Density Apartment House District with Lower Parking Requirements. |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 1939-0032 | Improvements Assessment | $27,454 CAD |
| Land Assessment | $126,192 CAD | Total Assessment | $153,646 CAD |
Property Taxes
Parcel Number
1939-0032
Land Assessment
$126,192 CAD
Improvements Assessment
$27,454 CAD
Total Assessment
$153,646 CAD
Contacts
-
Seth Glasser -
Benjamin Myerow -
Michael Fusco -
Christopher Mehran -
Marcus & Millichap
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2268 Adam Clayton Powell Jr Boulevard | 2268 Adam Clayton Powell Jr Blvd
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