7 Tremont Ave
- • 12 One-Bedroom Units
- • Brick Construction
- • Off-Street Parking
- • $119,040 Current Gross Annual Income
- • Below-Market In-Place Rents
- • Measurable Rental Upside Through Lease Turnover
- • R-3 Zoning Supporting Multifamily Density
- • Immediate Access to Downtown and Highway Interchange
Property Description
Now available for sale, this 12-unit brick multifamily property is located on Binghamton’s West Side, directly adjacent to the State Street Bridge interchange, providing immediate access to Downtown Binghamton and primary transportation routes. The property consists of twelve one-bedroom units with off-street parking and is situated within the City’s R-3 zoning district, supporting higher density residential use and established multifamily occupancy. The asset is currently generating in-place rental income with identifiable upside potential. Average rents are below indicated market levels, creating an opportunity to increase revenue through natural lease turnover. The manageable 12-unit scale allows for efficient ownership and operational control. This offering is well suited for investors seeking stabilized income with measurable rent growth potential in an established rental submarket.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $770,000 |
| No. of Units: | 12 |
| Year Built: | 1965 |
| Lot Size: | 0.16 Acres |
| Opportunity Zone: | No |
| Price per unit: | $64,167 |
| Property Website | Click Here |
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