12 Ayres St
- • Located at 12 Ayres 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 a 9.53% CAP Rate Based on next semesters signed leases.
- • 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
- Strong long term fundamentals driven by location, zoning alignment, and tenant preference
Property Description
Offered for sale is a stabilized student housing asset located in the core of Binghamton’s West Side, the most established and consistently leased student corridor in the market. The property is situated within the City’s R-3 zoning district, which supports higher density residential use and aligns with the surrounding student housing concentration south of Main Street. This location remains one of the most desirable areas for student tenants due to proximity to downtown amenities and established transportation routes. Leases for the upcoming semester are secured at $600 per bed for 6 Beds. Based on current operating expense ratios, the asset is projected to deliver a 9.52 percent capitalization rate, offering strong in-place yield relative to market alternatives. This offering presents an opportunity to acquire a high performing student housing property in a proven location with established rental demand, stable regulatory positioning, and durable cash flow fundamentals.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $299,000 |
| No. of Units: | 1 |
| Year Built: | 1910 |
| Lot Size: | 0.08 Acres |
| Opportunity Zone: | No |
| Price per unit: | $299,000 |
| Property Website | Click Here |
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