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74 Carroll St 5 Unit Apartment Building $1,689,000 ($337,800/Unit) 8.68% Cap Rate Binghamton, NY 13901
Investment Highlights
- 25-bed student housing asset leased through 2025–2026 academic year
- 8.52% cap rate supported by in-place operations
- Large parcel with dedicated off-street parking
- Mixed-use income with residential scale and commercial stability
- Secure access building with controlled entry and unit-level systems
- Unit layouts designed for student demand with multiple bathrooms
Executive Summary
74 Carroll Street is a fully leased, mixed-use investment property totaling approximately 13,020 SF, strategically configured to support both stable residential income and complementary commercial tenancy.
The residential component consists of five units totaling 25 student beds, with leases secured through the 2025–2026 academic year. Unit layouts are designed for student demand, featuring multiple bathrooms per unit, loft-style configurations, and modern finishes that position the property above typical local inventory.
Operational efficiency is enhanced through secure coded access at both the building and unit levels, creating a controlled environment that supports tenant quality and long-term performance.
The commercial portion provides additional income diversification, anchored by a newly executed three-year lease, reinforcing the property’s cash flow stability.
The asset sits on a larger-than-typical downtown parcel and includes off-street parking, a key differentiator in this market.
This offering combines in-place income, strong tenant demand, and operational control features, making it well suited for investors seeking durable performance in a supply-constrained student housing market.
The residential component consists of five units totaling 25 student beds, with leases secured through the 2025–2026 academic year. Unit layouts are designed for student demand, featuring multiple bathrooms per unit, loft-style configurations, and modern finishes that position the property above typical local inventory.
Operational efficiency is enhanced through secure coded access at both the building and unit levels, creating a controlled environment that supports tenant quality and long-term performance.
The commercial portion provides additional income diversification, anchored by a newly executed three-year lease, reinforcing the property’s cash flow stability.
The asset sits on a larger-than-typical downtown parcel and includes off-street parking, a key differentiator in this market.
This offering combines in-place income, strong tenant demand, and operational control features, making it well suited for investors seeking durable performance in a supply-constrained student housing market.
Property Facts
| Price | $1,689,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $337,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 8.68% | Building Size | 13,020 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1970 |
| Zoning | Service Commercial | ||
| Price | $1,689,000 |
| Price Per Unit | $337,800 |
| Sale Type | Investment |
| Cap Rate | 8.68% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 13,020 SF |
| Average Occupancy | 100% |
| 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
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
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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