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7 Tremont Ave 12 Unit Apartment Building $799,000 ($66,583/Unit) 9.33% Cap Rate Binghamton, NY 13903
Investment Highlights
- Solid brick 12-unit building in Binghamton's West Side.
- Walking distance to parks, Exchange Street Bridge, and downtown amenities.
- 12 one-bedroom units with off-street parking.
- Prime location with quick access to Downtown and major highways.
- Zoned R3, approved for student housing.
Executive Summary
Now available for sale, this solid brick 12-unit building is located in Binghamton's sought-after West Side. Positioned just across from the State Street Bridge interchange, the property offers fast and convenient access to Downtown Binghamton and major highway connections. Residents will enjoy being within walking distance of the picturesque South Side Veterans Park, the Exchange Street Bridge, and the vibrant downtown area, with its diverse shops, restaurants, and amenities.
Located in an R3 Zone and approved for student housing, this property benefits from a high demand in a versatile location. Featuring 12 one-bedroom units with off-street parking, it is perfectly suited for students or young professionals seeking both convenience and comfort. Recent renovations have enhanced both the building and individual units, making this a turnkey investment opportunity in a high-demand rental market.
Located in an R3 Zone and approved for student housing, this property benefits from a high demand in a versatile location. Featuring 12 one-bedroom units with off-street parking, it is perfectly suited for students or young professionals seeking both convenience and comfort. Recent renovations have enhanced both the building and individual units, making this a turnkey investment opportunity in a high-demand rental market.
Property Facts
| Price | $799,000 | Apartment Style | Low-Rise |
| Price Per Unit | $66,583 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 9.33% | Building Size | 5,712 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | R - Residential Multi Unit | ||
| Price | $799,000 |
| Price Per Unit | $66,583 |
| Sale Type | Investment |
| Cap Rate | 9.33% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,712 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Zoning | R - Residential Multi Unit |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 030200-160-065-0002-032-000-0000 | Improvements Assessment | $108,900 |
| Land Assessment | $11,100 | Total Assessment | $120,000 |
Property Taxes
Parcel Number
030200-160-065-0002-032-000-0000
Land Assessment
$11,100
Improvements Assessment
$108,900
Total Assessment
$120,000
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7 Tremont Ave
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