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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 10-unit multifamily property located on Main Street in Binghamton's West Side. The building features six 2-bedroom units and four 1-bedroom units, creating a balanced rental mix that has historically attracted both student and traditional tenants.
The property has benefited from recent updates and offers strong in-place income. Commercial zoning and student housing approval provide additional flexibility, while the solid brick construction contributes to the property's long-term durability. With an established rental history and a location that remains popular with tenants, 327 Main Street presents a compelling multifamily investment opportunity.
The property has benefited from recent updates and offers strong in-place income. Commercial zoning and student housing approval provide additional flexibility, while the solid brick construction contributes to the property's long-term durability. With an established rental history and a location that remains popular with tenants, 327 Main Street presents a compelling multifamily investment opportunity.
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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