139 Murray St - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$849,000 USD
607-621-0439
139 Murray St, Binghamton, NY for Sale
$849,000 USD
Apartments - FOR SALE
1/30
null | 12.42% Cap Rate

139 Murray St
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • Value-add student housing opportunity with limited capital expenditure required
  • Recently renovated asset featuring updated units, new kitchens, and dedicated laundry room
  • Immediate upside through rental optimization rather than costly building renovations
  • Desirable unit mix consisting of six 3-bedroom units and three studio apartments, providing multiple rental income streams
  • Strong student housing fundamentals with walkability to the SUNY bus line, Downtown Binghamton, restaurants, shops, and amenities
  • Operationally efficient property with separately metered utilities, helping reduce owner expense exposure

OVERVIEW

Offered for sale is an exceptional student housing investment opportunity located on Binghamton’s West Side. 139 Murray Street features a desirable unit mix consisting of six 3-bedroom units and three studio apartments, positioned in an excellent location just one block from the SUNY bus line and approximately four blocks from Downtown Binghamton. The property is within walking distance of restaurants, shops, services, entertainment, and other downtown amenities, making it highly attractive to student tenants. The building and units have been beautifully renovated, with recent improvements including updated kitchens, and a dedicated laundry room. The property also offers strong operational advantages, including separate utility metering, a fully sprinklered building, a secure entry, a solid steel fire escape, and ample off-street parking with a spacious parking lot. Tenants also benefit from an outdoor barbecue area, adding to the property’s appeal and livability. With its renovated condition, student-oriented layout, strong location, parking, safety features, and proximity to transportation and downtown amenities, 139 Murray Street represents a compelling opportunity for investors seeking a well-positioned student housing asset in the Binghamton market. Financials are presented on a pro forma basis.

FOR SALE DETAILS

PRICE

$849,000 USD

PRICE/SF

$104 USD /SF

# OF UNITS

9

PRICE/UNIT

$94,333

CAP RATE

12.42%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

Residential Multi-Unit Dw

APN/PARCEL ID

030200-160-031-0003-016-000-0000

ASK ABOUT THIS PROPERTY

Scott WarrenSVN | Innovative Commercial AdvisorsMore Info
607-621-0439

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Scott WarrenSVN | Innovative Commercial AdvisorsMore Info
607-621-0439

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