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59 Grand Ave 8 Unit Apartment Building $625,000 ($78,125/Unit) 8.07% Cap Rate Johnson City, NY 13790
Investment Highlights
- 8-unit multifamily investment opportunity in Johnson City, NY
- Located in the heart of Johnson City’s expanding healthcare and education corridor
- Unit mix consists of eight one-bedroom apartments
- Efficient one-bedroom unit mix supports broad rental demand
Executive Summary
Excellent opportunity to acquire an 8-unit multifamily property in the heart of Johnson City’s expanding healthcare and education corridor. The building consists of eight one-bedroom units and is ideally positioned within walking distance of the new UHS medical complex, Binghamton University’s School of Pharmacy and Pharmaceutical Sciences, and the Decker College of Nursing and Health Sciences.
This location provides strong tenant appeal for healthcare professionals, university faculty, staff, graduate students, and other residents seeking convenient access to major employment and education anchors. The property benefits from Johnson City’s continued investment and redevelopment activity, while offering investors a stable residential asset in a market supported by institutional demand drivers.
With its efficient unit mix, walkable location, and proximity to significant new development, 59 Grand Avenue represents a compelling multifamily investment opportunity with durable long-term rental demand.
This location provides strong tenant appeal for healthcare professionals, university faculty, staff, graduate students, and other residents seeking convenient access to major employment and education anchors. The property benefits from Johnson City’s continued investment and redevelopment activity, while offering investors a stable residential asset in a market supported by institutional demand drivers.
With its efficient unit mix, walkable location, and proximity to significant new development, 59 Grand Avenue represents a compelling multifamily investment opportunity with durable long-term rental demand.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $625,000 | Apartment Style | Low-Rise |
| Price Per Unit | $78,125 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 8.07% | Building Size | 5,370 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 0.37/1,000 SF |
| Zoning | USF - Single Family Residential District | ||
| Price | $625,000 |
| Price Per Unit | $78,125 |
| Sale Type | Investment |
| Cap Rate | 8.07% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 5,370 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 0.37/1,000 SF |
| Zoning | USF - Single Family Residential District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 034603-143-074-0001-026-000-0000 | Total Assessment | $11,900 |
| Land Assessment | $900 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $11,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
034603-143-074-0001-026-000-0000
Land Assessment
$900
Improvements Assessment
$11,000
Total Assessment
$11,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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59 Grand Ave