86 Oak St 7 Unit Apartment Building $550,000 ($78,571/Unit) Binghamton, NY 13905

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.
Investors should note that the City of Binghamton previously explored acquisition of the property through eminent domain but ultimately did not proceed. While no acquisition occurred, prospective purchasers should be aware that similar municipal interest could potentially arise in the future.