162 Chapin St - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$1,650,000 USD
607-621-0439
162 Chapin St, Binghamton, NY for Sale
$1,650,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

162 Chapin St
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • Proximity to Downtown Binghamton restaurants, retail, and employment centers
  • Situated within R-3 zoning supporting higher density residential and student occupency
  • Suitable for student housing with flexible leasing configurations
  • Unit mix includes 13 one bedroom units, 6 two bedroom units, and 1 four bedroom units

OVERVIEW

Offered for sale is a 20 unit apartment complex located in the City of Binghamton within the R-3 zoning district, a classification that supports higher density residential use and is well suited for student occupancy. The property’s zoning alignment provides long term regulatory consistency and positions the asset within an established rental corridor attractive to both traditional tenants and students. The unit mix consists of 13 one bedroom units, 6 two bedroom units, and 1 large four bedroom unit. This diversified configuration allows flexibility in leasing strategy, including individual student rentals or group occupancy, while maintaining broad appeal across multiple tenant profiles. The property is within walking distance to both public and student bus lines, providing direct connectivity to Binghamton University and Downtown Binghamton. The downtown core, including restaurants, retail, and service amenities, is also walkable, enhancing tenant convenience and supporting sustained demand. The building is fully sprinklered, strengthening life safety compliance and reducing operational risk. Tenants pay their own electric service, while the landlord covers gas and common electric, offering a manageable expense structure with potential for operational efficiencies. With R-3 zoning, transportation access, and proximity to downtown, this asset is well positioned for investors targeting student housing demand within a proven rental submarket of Binghamton.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$88 USD /SF

# OF UNITS

20

PRICE/UNIT

$82,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

R-3

APN/PARCEL ID

030200-160-031-0003-033-000-0000

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.