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327 Main St 10 Unit Apartment Building $860,000 ($86,000/Unit) 9.59% Cap Rate Binghamton, NY 13905
Executive Summary
Offered for sale is a solid brick multifamily investment property located directly on Main Street in Binghamton’s West Side. The property features a desirable unit mix of 6 two bedroom units and 4 one-bedroom units, providing investors with a well-balanced rental offering in a strategic Main Street location. The building is positioned on both SUNY and public transportation bus lines and is within walking distance of grocery stores, restaurants, shops, and neighborhood amenities. Commercially zoned and approved for
student housing, the property is well situated to benefit from continued rental demand from both student and traditional renters. Recent updates and renovations have
enhanced the property’s appeal, while the existing rent roll provides strong in-place income. With its solid brick construction, proven rental performance, and highly
accessible location, 327 Main Street represents a rare opportunity to acquire a well located multifamily asset in Binghamton’s West Side market.
student housing, the property is well situated to benefit from continued rental demand from both student and traditional renters. Recent updates and renovations have
enhanced the property’s appeal, while the existing rent roll provides strong in-place income. With its solid brick construction, proven rental performance, and highly
accessible location, 327 Main Street represents a rare opportunity to acquire a well located multifamily asset in Binghamton’s West Side market.
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Property Facts
| Price | $860,000 | Apartment Style | Low-Rise |
| Price Per Unit | $86,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 9.59% | Building Size | 10,480 SF |
| Gross Rent Multiplier | 6.56 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price | $860,000 |
| Price Per Unit | $86,000 |
| Sale Type | Investment |
| Cap Rate | 9.59% |
| Gross Rent Multiplier | 6.56 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 10,480 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1965 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 6 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 030200-143-075-0002-005-000-0000 | Improvements Assessment | $128,900 |
| Land Assessment | $56,400 | Total Assessment | $185,300 |
Property Taxes
Parcel Number
030200-143-075-0002-005-000-0000
Land Assessment
$56,400
Improvements Assessment
$128,900
Total Assessment
$185,300
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327 Main St
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