Crandall Hall Apartments | 2 Crandall St
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Crandall Hall Apartments 2 Crandall St
24 Unit Apartment Building $2,399,000 ($99,958/Unit) 6.71% Cap Rate Binghamton, NY 13905
Investment Highlights
- Great Location
- Close to Shopping and College
- Ample Parking
Executive Summary
Great Opportunity to buy fully occupied 24 Unit Building. Property kept in pristine condition.24 individual apartments. Each apartment has meters for electricity - heat is electric.
Each apartment has been refurbished and the building is in a mint condition.
New driveway, new fence, 2 new water heaters , new coin operated washing machines.
Updated roof (fall 2023) with a 20 years warranty.
Each apartment has been refurbished and the building is in a mint condition.
New driveway, new fence, 2 new water heaters , new coin operated washing machines.
Updated roof (fall 2023) with a 20 years warranty.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$193,800
|
$13.43
|
| Other Income |
$4,416
|
$0.31
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$198,216
|
$13.74
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$37,239
|
$2.58
|
| Net Operating Income |
$160,977
|
$11.16
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $193,800 |
| Annual Per SF | $13.43 |
| Other Income | |
|---|---|
| Annual | $4,416 |
| Annual Per SF | $0.31 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $198,216 |
| Annual Per SF | $13.74 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $37,239 |
| Annual Per SF | $2.58 |
| Net Operating Income | |
|---|---|
| Annual | $160,977 |
| Annual Per SF | $11.16 |
Property Facts
| Price | $2,399,000 | Building Class | C |
| Price Per Unit | $99,958 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 14,430 SF |
| Cap Rate | 6.71% | Average Occupancy | 71% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,399,000 |
| Price Per Unit | $99,958 |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 14,430 SF |
| Average Occupancy | 71% |
| No. Stories | 3 |
| Year Built/Renovated | 1960/2023 |
| Parking Ratio | 0.83/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- High Speed Internet Access
- Tub/Shower
- Grill
- Family Room
Site Amenities
- Fenced Lot
- Laundry Facilities
- Playground
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 550 |
Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 030200-160-030-0002-023-000-0000 | Improvements Assessment | $172,100 (2023) |
| Land Assessment | $7,900 (2023) | Total Assessment | $180,000 (2023) |
PROPERTY TAXES
Parcel Number
030200-160-030-0002-023-000-0000
Land Assessment
$7,900 (2023)
Improvements Assessment
$172,100 (2023)
Total Assessment
$180,000 (2023)
zoning
| Zoning Code | Commercial (This is Residential Building.) |
| Commercial (This is Residential Building.) |
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Crandall Hall Apartments | 2 Crandall St
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