116 Murray St
- • Located at 116 Murray Street in Binghamton’s established West Side student housing corridor
- • Situated in R-3 zoning supporting higher density residential and student occupancy
- • South of Main Street in one of the most desirable student rental submarkets
- • Offered at $38,778 per bed
- • Central air conditioning, a competitive amenity in the local student housing market
- • Off street parking, a limited and valuable feature in this corridor
- • Walking distance to SUNY bus line providing direct campus access
- • Walkable to Downtown Binghamton restaurants, retail, and entertainment
- • Positioned within a proven student housing concentration with consistent leasing demand
- • Attractive price per bed relative to replacement cost and competing inventory
- • Strong long-term fundamentals driven by location, zoning alignment, and tenant preference
Property Description
Offered for sale is 116 Murray Street, a student housing asset located within the City of Binghamton’s R-3 zoning district, south of Main Street. This corridor remains one of the most established and consistently leased student housing areas in the market. The property is being offered at $38,778 per bed, positioning it competitively within the local student housing inventory on a price per bed basis. This pricing metric provides a clear acquisition benchmark relative to replacement cost and competing assets in the submarket. A distinguishing feature of this property is central air conditioning, an amenity not commonly found in many legacy student housing properties in Binghamton. In addition, the building offers off street parking, a meaningful competitive advantage in a corridor where parking availability is limited and highly valued by tenants. The combination of R-3 zoning, location within the core student housing district, and functional amenities such as central air and dedicated parking supports continued tenant demand and long term income stability. This offering presents a well positioned opportunity for investors seeking durable cash flow within Binghamton’s established student housing market.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $349,000 |
| No. of Units: | 2 |
| Year Built: | 1905 |
| Lot Size: | 0.24 Acres |
| Opportunity Zone: | No |
| Price per unit: | $174,500 |
| Property Website | Click Here |
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