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162 Chapin St
Binghamton, NY 13905
Multifamily Property For Sale
·
20 Units
PROPERTY FACTS
| No. Units | 20 | Lot Size | 0.36 AC |
| Property Type | Multifamily | Building Size | 18,736 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | C | Year Built | 1975 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 18,736 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1975 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Public Transportation
ABOUT 162 CHAPIN ST , BINGHAMTON, NY 13905
This 20 unit building is all brick and masonry with separate electric meters, and heated by owner with steam boilers. There are three street entry doors and a rear parking lot with carports. Ample sized units in good condition, with room for improvements to the common areas. The large windows are attractive and allow a lot of light into the units. Currently there is only one tenant receiving rental subsidies. Recently purchased as part of a 13 property portfolio, this building has experienced some turnover and vacancies due to the new ownership transition, along with $14,000 in capital improvement work while they were empty. Therefore the projected performance is based on a stabilized proforma with existing rents. Two new leases taken in past week and full occupancy is expected in 30-60 days. The suggested modest upgrades along with good management will create a solid rental upside for the new ownership.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 650 |
| 2+1 | 7 | - | 900 |
| 5+2 | 1 | - | 1,200 |
PROPERTY TAXES
| Parcel Number | 030200-160-031-0003-033-000-0000 | Improvements Assessment | $161,600 |
| Land Assessment | $8,400 | Total Assessment | $170,000 |
PROPERTY TAXES
