16 Unit Main Street Portfolio
327 Main St | Binghamton, NY 13905
$1,499,000
Sale Price
Property Details
| Sale Price: | $1,499,000 |
| Year Built: | 1965 |
| Property Type: | Multifamily |
| Building Size: | 7,904 SF |
| NOI: | $127,160.00 |
| Cap Rate: | 8.48% |
Property Description
Introducing 327 Main St in Binghamton, NY - an attractive investment opportunity. This 11,679 SF, 16-unit property boasts a prime location in the sought-after Binghamton Student Housing area. The building, constructed in 1965, underwent a comprehensive renovation in 2021, ensuring modern appeal and functionality. Zoned Multi Residential 20 Units, the property currently enjoys full occupancy, signifying a stable income stream for potential investors. With a proven track record and optimal positioning, this multifamily/mid-rise property is poised to deliver exceptional returns.
Location Description
Excellent location. Directly on Main Street. This is right on the SUNY and public transportation bus lines and is walking distance to many Restaurants, shops and amenities.
Highlights
- - 11,679 SF mid-rise building
- - 16 units
- - Built in 1965, renovated in 2021
- - Zoned Multi Residential 20 Units
- - Prime location in Binghamton Student Housing area
- - Fully occupied with 100% occupancy
- - Updated and modernized facilities
- - Strong rental income potential
- - Proven investment opportunity
- - Stable and reliable cash flow
- - Attractive to multifamily/mid-rise investors
Map
Request More Info
| 0.3 Miles | 0.5 Miles | 1 Miles | |
|---|---|---|---|
| Total households | 696 | 2,656 | 7,752 |
| Total population | 1,621 | 5,901 | 16,936 |
| Population white | 56.5% | 58.1% | 63.3% |
| Population black | 17.8% | 17.5% | 14.3% |
| Population hispanic | 9.9% | 9.6% | 8.8% |
| Population asian | 12.0% | 11.2% | 9.7% |
| Population pacific islander | 0.1% | 0.2% | 0.1% |
| Population american indian | 0.2% | 0.3% | 0.3% |
| Population other | 2.5% | 3.0% | 2.8% |
| Persons per household | 2.3 | 2.2 | 2.2 |
| Average household income | $55,034 | $59,239 | $68,073 |
| Average house value | $133,826 | $129,571 | $148,618 |
| Average age | 38 | 39 | 40 |
| Average age male | 0 | 0 | 0 |
| Average age female | 0 | 0 | 0 |