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2 Crandall St
Binghamton, NY 13905
Crandall Hall Apartments · Multifamily Property For Sale
·
24 Units
Investment Highlights
- Fully renovated 24-unit multifamily property
- Strong historical occupancy and tenant retention
- 100% occupied with immediate, stabilized cash flow
Executive Summary
Offered for sale is a fully renovated, 100% occupied 24-unit apartment building located on Binghamton’s desirable West Side. The property provides investors with immediate, stabilized cash flow supported by a strong occupancy history and limited near-term capital requirements.
Comprehensive improvements include a newer roof with approximately 23 years remaining on its warranty, updated domestic hot-water systems, hallway and in-unit sprinkler systems, high-speed internet infrastructure and an elevator serving the building. Each apartment is separately metered and equipped with electric heat, supporting efficient operations and predictable ownership expenses.
Off-street parking and a landscaped outdoor picnic area further enhance the resident experience and support long-term tenant retention. With substantial capital improvements already completed and no immediate deferred-maintenance requirements, 2 Crandall Street represents a turnkey multifamily investment offering durable income and long-term appreciation potential.
Comprehensive improvements include a newer roof with approximately 23 years remaining on its warranty, updated domestic hot-water systems, hallway and in-unit sprinkler systems, high-speed internet infrastructure and an elevator serving the building. Each apartment is separately metered and equipped with electric heat, supporting efficient operations and predictable ownership expenses.
Off-street parking and a landscaped outdoor picnic area further enhance the resident experience and support long-term tenant retention. With substantial capital improvements already completed and no immediate deferred-maintenance requirements, 2 Crandall Street represents a turnkey multifamily investment offering durable income and long-term appreciation potential.
Property Facts
| Price Per Unit | $83,292 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 8.14% | Building Size | 14,430 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low-Rise | Parking Ratio | 0.83/1,000 SF |
| Zoning | Commercial R-3 - R-3 | ||
| Price Per Unit | $83,292 |
| Sale Type | Investment |
| Cap Rate | 8.14% |
| 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 | 100% |
| No. Stories | 3 |
| Year Built | 1960 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | Commercial R-3 - R-3 |
Amenities
Unit Amenities
- Heating
- Kitchen
- High Speed Internet Access
- Tub/Shower
- Grill
- Family Room
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Playground
- Tenant Controlled HVAC
- Smoke Free
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 550 |
Property Taxes
| Parcel Number | 030200-160-030-0002-023-000-0000 | Improvements Assessment | $172,100 |
| Land Assessment | $7,900 | Total Assessment | $180,000 |
Property Taxes
Parcel Number
030200-160-030-0002-023-000-0000
Land Assessment
$7,900
Improvements Assessment
$172,100
Total Assessment
$180,000
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