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Bl Chapin 99 Oak St 24 Unit Apartment Building $2,999,000 ($124,958/Unit) 8.21% Cap Rate Binghamton, NY 13905
Investment Highlights
- Approximately $890,960 in Capital Improvements
- Fully Renovated, Turnkey Student Housing Asset
- Walking Distance to Downtown Binghamton and the Court Street Bridge
Executive Summary
99 Oak Street offers the opportunity to acquire a fully renovated, 24-unit, 40-bed student housing asset that has undergone approximately $890,960 in capital improvements. The extensive renovation program has enhanced both the property's appeal and functionality, creating a turnkey investment with modernized interiors, upgraded common areas, and thoughtfully updated living spaces that appeal to today's student renters.
Large-scale student housing assets of this quality are rarely available in the Binghamton market. With 40 beds, significant recent investment, and an assumable non-recourse loan potentially available to qualified buyers, the property provides investors with an attractive combination of immediate income, operational scale, and long-term upside.
Large-scale student housing assets of this quality are rarely available in the Binghamton market. With 40 beds, significant recent investment, and an assumable non-recourse loan potentially available to qualified buyers, the property provides investors with an attractive combination of immediate income, operational scale, and long-term upside.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
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| Other Income |
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| Vacancy Loss |
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| Effective Gross Income |
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,999,000 | Building Class | C |
| Price Per Unit | $124,958 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 23,654 SF |
| Cap Rate | 8.21% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 0.42/1,000 SF |
| Apartment Style | Hi-Rise | ||
| Zoning | Neighborhood Office - 99 Oak Street is located in Binghamton's established West Side student housing district, one of the city's most active rental markets. | ||
| Price | $2,999,000 |
| Price Per Unit | $124,958 |
| Sale Type | Investment |
| Cap Rate | 8.21% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 23,654 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 1970 |
| Parking Ratio | 0.42/1,000 SF |
| Zoning | Neighborhood Office - 99 Oak Street is located in Binghamton's established West Side student housing district, one of the city's most active rental markets. |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walking/Biking Trails
- Elevator
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 500 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 030200-160-039-0003-040-000-0000 | Improvements Assessment | $40,200 |
| Land Assessment | $18,300 | Total Assessment | $58,500 |
Property Taxes
Parcel Number
030200-160-039-0003-040-000-0000
Land Assessment
$18,300
Improvements Assessment
$40,200
Total Assessment
$58,500
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Bl Chapin | 99 Oak St
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