Oak Street Apartments | 111 Oak St
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Oak Street Apartments 111 Oak St
12 Unit Apartment Building $799,000 ($66,583/Unit) 10.33% Cap Rate Binghamton, NY 13905
Investment Highlights
- Zoned for student housing (R-3)
- 18 Bedrooms
- Massive Upside Potential
- 1 Block To Downtown
- Great Cash Flow
Executive Summary
Presenting a rare and unique opportunity to own this solid Brick 12 unit, 18 Bed complex in Binghamton, NY. Downtown Binghamton is known to be a thriving area of Student Housing. Neighboring approximately 1,300 Student beds this is a prime strategic location to benefit from this thriving market. Just one building from Main St and one block from the Court St Bridge this is walking distance to all of Downtown Binghamton's Restaurants, shops and amenities. This location has a very walkable score of 85. This is a rare R-3 zoning opportunity in a market with a high barrier to entry. This is currently leased to families with significant potential to convert to Student housing. This building is priced to sell with existing positive cash flow and significant value add potential. All rents are below market.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $799,000 | Apartment Style | Low Rise |
| Price Per Unit | $66,583 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 10.33% | Building Size | 8,640 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Price | $799,000 |
| Price Per Unit | $66,583 |
| Sale Type | Investment |
| Cap Rate | 10.33% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 8,640 SF |
| No. Stories | 3 |
| Year Built | 1965 |
| Parking Ratio | 1.39/1,000 SF |
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
- Freezer
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 6 | - | - |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 030200-160-039-0003-008-000-0000 | Improvements Assessment | $153,200 |
| Land Assessment | $6,800 | Total Assessment | $160,000 |
PROPERTY TAXES
Parcel Number
030200-160-039-0003-008-000-0000
Land Assessment
$6,800
Improvements Assessment
$153,200
Total Assessment
$160,000
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Oak Street Apartments | 111 Oak St
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