2 Grand Blvd - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$1,050,000 USD
607-651-3369
2 Grand Blvd, Binghamton, NY for Sale
$1,050,000 USD
Apartments - FOR SALE
1/48
null | 9.15% Cap Rate

2 Grand Blvd
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • Fully Renovated
  • Central Location to BU and Hospitals
  • over 275k in upgrades and maintenance

OVERVIEW

This fully stabilized 10-unit student rental asset, located on Binghamton’s West Side, offers an exceptional investment opportunity with 27 rentable bedrooms and a pro forma cap rate of 9.1%. With a GRM of just 6.87, the property boasts strong cash flow and efficiency in a proven university rental corridor. Over $275,000 in capital improvements have been completed since 2022, including full interior upgrades, new roofing, plumbing, smart utility meters, and a modern security system. Most units are separately metered, with tenants covering their own electric and gas usage—only one unit shares a house meter. The owner currently covers water/sewer and house electric only. The building is fully leased to a mix of Binghamton University students and young professionals and has a consistent history of professional management and low vacancy. This is a rare chance to acquire a turnkey, high-performing asset in a high-demand rental market with limited inventory and long-term upside.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$126 USD /SF

# OF UNITS

10

PRICE/UNIT

$105,000

CAP RATE

9.15%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R2

APN/PARCEL ID

030200-160-021-0005-008-000-0000

ASK ABOUT THIS PROPERTY

Keith ArnoldHoward Hanna Real Estate ServicesMore Info
607-651-3369

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Keith ArnoldHoward Hanna Real Estate ServicesMore Info
607-651-3369

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