158 Chapin St - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$370,000 USD
607-481-5334
158 Chapin St, Binghamton, NY for Sale
$370,000 USD
Apartments - FOR SALE
1/45
null | 10.15% Cap Rate

158 Chapin St
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • All 1-bedroom apartments
  • Turn-key management
  • Security camera system

OVERVIEW

Turn-key investment opportunity! Excellent 5-unit multi-family property featuring five individual 1-bedroom apartments delivering a strong Net Operating Income (NOI) of $37,539 after expenses, representing a solid 10.15% cap rate. Total landlord utility expenses (electric, gas, water, and sewer) are $8,809/year. The property includes high-speed internet bundled into operations to power the remote-accessible security camera system, which transfers to the new owner upon sale. Additional revenue is generated by on-site coin-operated laundry facilities producing ~$2,000/year. The property also features a detached 2-car garage that remains locked exclusively for owner use/storage and is not rented to tenants. Well-maintained with a solid rental history, established annual rent schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs. PORTFOLIO OPPORTUNITY: This property can be purchased individually or packaged together with 175 Chapin Street (an 8-unit property) to acquire a 13-unit portfolio generating $103,186 in combined net income at an overall 9.38% cap rate ($1,100,000 package price). (Note: Proof of Funds or pre-approval is required prior to scheduling any private walkthroughs.)

FOR SALE DETAILS

PRICE

$370,000 USD

PRICE/SF

$172 USD /SF

# OF UNITS

5

PRICE/UNIT

$74,000

CAP RATE

10.15%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

158 Chapin Street, Binghamton NY 13905

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,050 SF

ZONING

YES

APN/PARCEL ID

030200-160-031-0003-042-000-0000

ASK ABOUT THIS PROPERTY

James ConnorKeller Williams Southern Tier & Finger LakesMore Info
607-481-5334

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James ConnorKeller Williams Southern Tier & Finger LakesMore Info
607-481-5334

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