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86 Oak St 7 Unit Apartment Building $525,000 ($75,000/Unit) Binghamton, NY 13905
Investment Highlights
- 8-unit multifamily investment opportunity
- Separate electric meters
- 17 existing beds across 7 completed units
Executive Summary
86 Oak Street presents an opportunity to acquire an 8-unit multifamily property in one of Binghamton's strongest rental corridors. The property currently consists of seven completed units totaling 17 beds, along with a framed-out basement unit that may offer the potential to increase the unit and bed count, subject to municipal approvals. The building is separately metered for electric and includes on-site laundry facilities and off-street parking.
Positioned within walking distance of Downtown Binghamton and neighboring approximately 1,300 student beds, the property benefits from consistent demand drivers associated with the area's student housing market. Its proximity to bus routes, restaurants, retail, and entertainment venues supports continued tenant demand from both students and traditional renters. This offering presents a value-add opportunity through renovation, operational improvements, lease-up, and potential expansion of the existing unit count.
Positioned within walking distance of Downtown Binghamton and neighboring approximately 1,300 student beds, the property benefits from consistent demand drivers associated with the area's student housing market. Its proximity to bus routes, restaurants, retail, and entertainment venues supports continued tenant demand from both students and traditional renters. This offering presents a value-add opportunity through renovation, operational improvements, lease-up, and potential expansion of the existing unit count.
Property Facts
| Price | $525,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 13,086 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.73/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C-5 - Offered for sale is an 8-unit multifamily property located in a highly desirable Binghamton location with strong value-add potential. | ||
| Price | $525,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 13,086 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | C-5 - Offered for sale is an 8-unit multifamily property located in a highly desirable Binghamton location with strong value-add potential. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 030200-160-047-0004-001-000-0000 | Improvements Assessment | $98,300 |
| Land Assessment | $18,000 | Total Assessment | $116,300 |
Property Taxes
Parcel Number
030200-160-047-0004-001-000-0000
Land Assessment
$18,000
Improvements Assessment
$98,300
Total Assessment
$116,300
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86 Oak St