90 Henry Street, Binghamton NY 13901 88-90 Henry St 26 Unit Apartment Building $1,650,000 ($63,462/Unit) 10% Cap Rate Binghamton, NY 13901

This well-maintained 26-unit studio apartment building presents a compelling investment opportunity in the heart of the rapidly developing Stadium District of Binghamton. Currently operating at 85 percent occupancy with applications actively coming in, the asset demonstrates strong tenant demand and clear upside potential. The property is Commercial Zoning and walking distance to the SUNY bus lines and very close to the main bus terminal, offering flexibility and long-term value in one of the city’s most desirable rental corridors for Binghamton University students and downtown professionals.
The building is secure, professionally maintained, and designed for operational efficiency, featuring one central boiler that simplifies maintenance and reduces long-term operating complexity. The location is surrounded by restaurants, shops, banks, and entertainment venues, reinforcing its appeal to renters seeking a walkable, urban lifestyle.
Financials are based on a pro forma at full occupancy, delivering a projected 10 percent cap rate at the asking price. At only $59,000 per door, this offering represents a rare value-add opportunity in a market experiencing continued reinvestment and redevelopment, driving sustained demand for quality housing. Ideal for investors seeking strong yield, operational simplicity, and long-term appreciation in a proven downtown location.