175 Chapin St - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$730,000 USD
607-481-5334
175 Chapin St, Binghamton, NY for Sale
$730,000 USD
Apartments - FOR SALE
1/64
null | 8.99% Cap Rate

175 Chapin St
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • Strong Financial Performance
  • Parking & Access
  • Low Landlord Overhead

OVERVIEW

Turn-key investment opportunity! Excellent 8-unit multi-family property featuring eight individual 1-bedroom apartments with a strong Net Operating Income of $65,647 after expenses. Landlord utility expenses (water, sewer, and common electric) total just $2,852/year. The building offers plenty of off-street parking behind the building for each tenant and is designed for low-friction management, featuring 9 separate electric meters (8 tenant-paid, 1 landlord meter for common spaces). Additional income stream provided by on-site coin-operated laundry facilities generating approximately $2,000/year ($500/qtr). Security-enabled building features a locked front entry with postal key access, plus a remote-viewable security camera system that transfers to the new owner. Well-maintained property with a solid rental history, established rental schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs. Perfect addition to any portfolio!

FOR SALE DETAILS

PRICE

$730,000 USD

PRICE/SF

$50 USD /SF

# OF UNITS

8

PRICE/UNIT

$91,250

CAP RATE

8.99%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,316 SF

ZONING

Multi residential

APN/PARCEL ID

030200-160-031-0002-007-000-0000

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.