51 Seminary Ave
- • Located at 51 Seminary Ave. 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 9.03% CAP Rate
- • 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 includes six bedrooms and two full bathrooms with a functional layout that supports consistent student occupancy and efficient leasing. The asset 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 $625 per bed. Based on current operating expense ratios, the asset is projected to deliver a 9.03% 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: | 2-4 Units |
| Price: | $359,000 |
| No. of Units: | 2 |
| Year Built: | 1900 |
| Lot Size: | 0.13 Acres |
| Opportunity Zone: | No |
| Price per unit: | $179,500 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
15 Jefferson Street
Johnstown, Pennsylvania
405-407 S Cherry Street
Ebensburg, Pennsylvania
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout