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158 Chapin St - 158 Chapin Street, Binghamton NY 13905 5 Unit Apartment Building Offered at $370,000 at a 10.15% Cap Rate Binghamton, NY 13905
Investment Highlights
- All 1-bedroom apartments
- Security camera system
- Turn-key management
Executive Summary
Turn-key investment opportunity! Excellent 5-unit multi-family property featuring five individual 1-bedroom apartments delivering a strong Net Operating Income (NOI) of $37,539 after expenses, representing a solid 10.15% cap rate. Total landlord utility expenses (electric, gas, water, and sewer) are $8,809/year. The property includes high-speed internet bundled into operations to power the remote-accessible security camera system, which transfers to the new owner upon sale. Additional revenue is generated by on-site coin-operated laundry facilities producing ~$2,000/year. The property also features a detached 2-car garage that remains locked exclusively for owner use/storage and is not rented to tenants. Well-maintained with a solid rental history, established annual rent schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs.
PORTFOLIO OPPORTUNITY: This property can be purchased individually or packaged together with 175 Chapin Street (an 8-unit property) to acquire a 13-unit portfolio generating $103,186 in combined net income at an overall 9.38% cap rate ($1,100,000 package price).
(Note: Proof of Funds or pre-approval is required prior to scheduling any private walkthroughs.)
PORTFOLIO OPPORTUNITY: This property can be purchased individually or packaged together with 175 Chapin Street (an 8-unit property) to acquire a 13-unit portfolio generating $103,186 in combined net income at an overall 9.38% cap rate ($1,100,000 package price).
(Note: Proof of Funds or pre-approval is required prior to scheduling any private walkthroughs.)
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $900.00 | - |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
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Contact the Sale Advisor
158 Chapin St - 158 Chapin Street, Binghamton NY 13905