162 Chapin St
- • 20 unit apartment complex located in the City of Binghamton
- • Situated within R-3 zoning supporting higher density residential and student occupancy
- • Suitable for student housing with flexible leasing configurations
- • Unit mix includes 13 one bedroom units, 6 two bedroom units, and 1 four bedroom unit
- • Diversified income stream across multiple bedroom formats
- • Walking distance to student and public bus lines serving Binghamton University
- • Proximity to Downtown Binghamton restaurants, retail, and employment centers
- • Fully sprinklered building enhancing life safety compliance
- • Tenants pay their own electric service
- • Established rental corridor with consistent demand
- • Opportunity to capture student driven leasing velocity within a proven submarket
Property Description
Offered for sale is a 20 unit apartment complex located in the City of Binghamton within the R-3 zoning district, a classification that supports higher density residential use and is well suited for student occupancy. The property’s zoning alignment provides long term regulatory consistency and positions the asset within an established rental corridor attractive to both traditional tenants and students. The unit mix consists of 13 one bedroom units, 6 two bedroom units, and 1 large four bedroom unit. This diversified configuration allows flexibility in leasing strategy, including individual student rentals or group occupancy, while maintaining broad appeal across multiple tenant profiles. The property is within walking distance to both public and student bus lines, providing direct connectivity to Binghamton University and Downtown Binghamton. The downtown core, including restaurants, retail, and service amenities, is also walkable, enhancing tenant convenience and supporting sustained demand. The building is fully sprinklered, strengthening life safety compliance and reducing operational risk. Tenants pay their own electric service, while the landlord covers gas and common electric, offering a manageable expense structure with potential for operational efficiencies. With R-3 zoning, transportation access, and proximity to downtown, this asset is well positioned for investors targeting student housing demand within a proven rental submarket of Binghamton.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,640,000 |
| No. of Units: | 20 |
| Year Built: | 1900 |
| Lot Size: | 0.36 Acres |
| Opportunity Zone: | No |
| Price per unit: | $82,000 |
| Property Website | Click Here |
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