88-90 Henry St - Apartments FOR SALE


Binghamton, NY 13901- Center City
$1,650,000 USD
607-354-6206
88-90 Henry St, Binghamton, NY for Sale
$1,650,000 USD
Apartments - FOR SALE
1/2
null | 10% Cap Rate

88-90 Henry St
Binghamton, NY 13901
Center City


HIGHLIGHTS

  • Strong cash-flow upside: 26 studio apartments with 85% occupancy and applications coming in.
  • Pro forma financials at full stabilization projecting a 10% cap rate at the asking price.
  • Prime Stadium District location: Desirable Commercial zoning in a top rental corridor for BU students, surrounded by restaurants and shops.
  • Efficient, well-maintained asset: Secure building with one central boiler for ease of maintenance, offered at an exceptional $59,000 per door.

OVERVIEW

This well-maintained 26-unit studio apartment building presents a compelling investment opportunity in the heart of the rapidly developing Stadium District of Binghamton. Currently operating at 85 percent occupancy with applications actively coming in, the asset demonstrates strong tenant demand and clear upside potential. The property is Commercial Zoning and walking distance to the SUNY bus lines and very close to the main bus terminal, offering flexibility and long-term value in one of the city’s most desirable rental corridors for Binghamton University students and downtown professionals. The building is secure, professionally maintained, and designed for operational efficiency, featuring one central boiler that simplifies maintenance and reduces long-term operating complexity. The location is surrounded by restaurants, shops, banks, and entertainment venues, reinforcing its appeal to renters seeking a walkable, urban lifestyle. Financials are based on a pro forma at full occupancy, delivering a projected 10 percent cap rate at the asking price. At only $59,000 per door, this offering represents a rare value-add opportunity in a market experiencing continued reinvestment and redevelopment, driving sustained demand for quality housing. Ideal for investors seeking strong yield, operational simplicity, and long-term appreciation in a proven downtown location.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$47 USD /SF

# OF UNITS

26

PRICE/UNIT

$63,462

CAP RATE

10%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

-

APN/PARCEL ID

030200-160-033-0003-006-000-0000

ASK ABOUT THIS PROPERTY

James LucentiSVN Innovative Commercial AdvisorsMore Info
607-354-6206

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James LucentiSVN Innovative Commercial AdvisorsMore Info
607-354-6206

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