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59 Grand Ave. & 7 Tremont Ave. 2 Multifamily Properties Offered at $1,360,000 in Multiple Locations
Investment Highlights
- 20 total multifamily units across two properties
- Fully occupied with strong occupancy history
- Stable in-place cash flow
- 100% one-bedroom apartment mix
- Significant renovations and property improvements completed
- Brick construction with strong curb appeal
Executive Summary
Offered for sale is a 20-unit multifamily portfolio consisting of 59 Grand Avenue in Johnson City and 7 Tremont Avenue in Binghamton. The portfolio is comprised entirely of one-bedroom apartments and is currently fully occupied, reflecting strong occupancy history and stable tenant demand across both assets.
Both properties have benefited from substantial renovations and ongoing improvements, allowing investors to acquire stabilized multifamily assets with limited near-term capital requirements. Priced at approximately $69,950 per unit, the portfolio presents an attractive opportunity to acquire scale, dependable cash flow, and operational efficiency within two established Southern Tier rental markets.
Both properties have benefited from substantial renovations and ongoing improvements, allowing investors to acquire stabilized multifamily assets with limited near-term capital requirements. Priced at approximately $69,950 per unit, the portfolio presents an attractive opportunity to acquire scale, dependable cash flow, and operational efficiency within two established Southern Tier rental markets.
Taxes & Operating Expenses (Actual - 2025) |
Annual |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$119,548
|
Taxes & Operating Expenses (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $119,548 |
Property Facts
| Price | $1,360,000 | Status | Active |
| Price / SF | $122.72 / SF | Number of Properties | 2 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 2 |
| Cap Rate | 8.79% | Total Building Size | 11,082 SF |
| Sale Type | Investment | Total Land Area | 0.64 AC |
| Price | $1,360,000 |
| Price / SF | $122.72 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 8.79% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 11,082 SF |
| Total Land Area | 0.64 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 7 Tremont Ave, Binghamton, NY 13903 | Multifamily | 5,712 SF | 1965 | $770,000 |
| 59 Grand Ave, Johnson City, NY 13790 | Multifamily | 5,370 SF | 1970 | $625,000 |
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Contact the Sale Advisor
59 Grand Ave. & 7 Tremont Ave.