140 Chapin St
- Prime West Side location within walking distance to the SUNY bus line and Downtown Binghamton
- Eleven units totaling fourteen beds and eleven baths
- Roof and boiler replaced in 2019
- Strong cash flow with all rents positioned below market for immediate upside
- Off street parking
- Secure building with controlled access
Property Description
Introducing 140 Chapin St, a prime investment opportunity in Binghamton, NY. This 6,117 SF building, boasting 11 units, presents a lucrative student housing investment in an excellent location in Binghamton's West Side. The property enjoys a high 92.8% occupancy rate, ensuring immediate income generation. Zoned R-3, it offers flexibility for future development. Situated in one of the most established areas for student housing in the Binghamton market and walking distance to Downtown Binghamton ensures a steady occupancy and cash flow. Many of the rents are below market rent creating an opportunity for significant value add without the large renovation costs.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $725,000 |
| No. of Units: | 11 |
| Year Built: | 1970 |
| Lot Size: | 0.18 Acres |
| Opportunity Zone: | No |
| Price per unit: | $65,909 |
| Property Website | Click Here |
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