25 Virgil St
- • Strong In-Place Cash Flow: Stabilized, fully occupied multifamily investment generating $30,045.50 NOI at a 12.79% cap rate, with potential to increase to an estimated 13.8% cap rate through self-management.
- • Turnkey Investment: All units have been fully renovated and are separately metered with electric heat, providing low-maintenance operations, reduced utility expenses, and immediate rental income from day one.
- • Prime Rental Location: Minutes from Binghamton University, Downtown Binghamton, major hospitals, public transportation, shopping, and major employers, supporting strong rental demand from students, healthcare professionals, and the local workforce.
Property Description
25 Virgil Street is a fully renovated, stabilized multifamily investment property offering immediate cash flow. The property generates a Net Operating Income (NOI) of $30,045.50 at a 12.79% capitalization rate, providing attractive in-place returns. For owner-operators or self-managing investors, NOI increases to approximately $32,411, resulting in an estimated 13.8% cap rate. All units have been fully renovated, are 100% occupied, and produce proven, stable rental income. Electric heat throughout the building, separately metered utilities, and low-maintenance systems help reduce operating expenses while simplifying property management. The property also offers future rental upside as market rents continue to grow. Whether you're expanding your multifamily portfolio, completing a 1031 exchange, or seeking a high-yield, turnkey investment property with immediate cash flow, 25 Virgil Street presents an outstanding opportunity to acquire a well-maintained, income-producing asset in the growing Binghamton market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $235,000 |
| No. of Units: | 5 |
| Year Built: | 1950 |
| Lot Size: | 0.10 Acres |
| Opportunity Zone: | No |
| Price per unit: | $47,000 |
| Property Website | Click Here |
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