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74 Carroll St 5 Unit Apartment Building $1,789,000 ($357,800/Unit) 8.19% Cap Rate Binghamton, NY 13901
INVESTMENT HIGHLIGHTS
- Prime Downtown Binghamton Student Housing. 5 Residential Units with 25 Beds
- Ample off street parking
- 3 Units have loft bedrooms. 2 Bathrooms in each unit
- 2 Commercial Spaces. One new tenant with a 3 year lease
- Central Air
- Laundry in each unit
EXECUTIVE SUMMARY
Property Description
This is a standout opportunity for investors targeting Downtown Binghamton’s strong student housing market. This 13,000 SF building includes five fully leased residential units and two commercial spaces, with residential leases secured through the 2025–2026 academic year. The student housing component features 25 beds with high-end finishes, including central air, AC, two bathrooms per unit, and loft-style bedrooms in three of the five units. The building offers secure coded access to both the main entrance and individual units. Located just one building off Court Street, it’s within walking distance to Binghamton’s restaurants, nightlife, shops, and amenities. The property also includes ample off-street parking, and a newly signed three-year lease with a salon adds strength to the commercial portion. A must-see investment.
Location Description
This prime location is ideally positioned to capitalize on Downtown Binghamton’s thriving student housing market. Just one building off the busy Court Street corridor, it combines exceptional convenience with a strong walkability score of 84 and a daily traffic count of 7,280. The property is easily accessible via SUNY bus routes and within walking distance to the area’s restaurants, shops, and amenities. Unlike many downtown sites, it also offers free street parking, with additional paid parking just one block to the west.
This is a standout opportunity for investors targeting Downtown Binghamton’s strong student housing market. This 13,000 SF building includes five fully leased residential units and two commercial spaces, with residential leases secured through the 2025–2026 academic year. The student housing component features 25 beds with high-end finishes, including central air, AC, two bathrooms per unit, and loft-style bedrooms in three of the five units. The building offers secure coded access to both the main entrance and individual units. Located just one building off Court Street, it’s within walking distance to Binghamton’s restaurants, nightlife, shops, and amenities. The property also includes ample off-street parking, and a newly signed three-year lease with a salon adds strength to the commercial portion. A must-see investment.
Location Description
This prime location is ideally positioned to capitalize on Downtown Binghamton’s thriving student housing market. Just one building off the busy Court Street corridor, it combines exceptional convenience with a strong walkability score of 84 and a daily traffic count of 7,280. The property is easily accessible via SUNY bus routes and within walking distance to the area’s restaurants, shops, and amenities. Unlike many downtown sites, it also offers free street parking, with additional paid parking just one block to the west.
PROPERTY FACTS
| Price | $1,789,000 | Apartment Style | Low-Rise |
| Price Per Unit | $357,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 8.19% | Building Size | 13,020 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | ||
| Zoning | Service Commercial | ||
| Price | $1,789,000 |
| Price Per Unit | $357,800 |
| Sale Type | Investment |
| Cap Rate | 8.19% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 13,020 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Zoning | Service Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 030200-160-042-0001-032-000-0000 | Improvements Assessment | $355,875 |
| Land Assessment | $73,125 | Total Assessment | $429,000 |
PROPERTY TAXES
Parcel Number
030200-160-042-0001-032-000-0000
Land Assessment
$73,125
Improvements Assessment
$355,875
Total Assessment
$429,000
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74 Carroll St
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