140 Chapin St - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$725,000 USD
607-621-0439
140 Chapin St, Binghamton, NY for Sale
$725,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

140 Chapin St
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • Prime West Side location within walking distance to the SUNY bus line and Downtown Binghamton
  • Eleven units totaling fourteen beds and eleven baths
  • Roof and boiler replaced in 2019
  • Strong cash flow with all rents positioned below market for immediate upside
  • Off street parking
  • Secure building with controlled access

OVERVIEW

Introducing 140 Chapin St, a prime investment opportunity in Binghamton, NY. This 6,117 SF building, boasting 11 units, presents a lucrative student housing investment in an excellent location in Binghamton's West Side. The property enjoys a high 92.8% occupancy rate, ensuring immediate income generation. Zoned R-3, it offers flexibility for future development. Situated in one of the most established areas for student housing in the Binghamton market and walking distance to Downtown Binghamton ensures a steady occupancy and cash flow. Many of the rents are below market rent creating an opportunity for significant value add without the large renovation costs.

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$119 USD /SF

# OF UNITS

6

PRICE/UNIT

$120,833

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,135 SF

ZONING

COM

APN/PARCEL ID

030200-160-039-0002-029-000-0000

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.