For Sale
$625,000

126 Murray StBinghamton, NY 13905

Four-unit renovated student housing, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fully renovated, three-story multifamily property located at 126 Murray St, Binghamton, NY 13905. The 4,914 square foot building, constructed in 1960 and completely renovated in 2023, boasts four spacious units, each offering modern appeal and functional layouts. The property sits on a 6,771 square foot lot and features twelve bedrooms across the four units. Recent renovations include new plumbing, water heaters, a furnace, updated kitchens and bathrooms. Currently operating at 58% occupancy, the property generates a Net Operating Income (NOI) of $36,792, with a projected NOI of $67,348. This translates to a current cap rate of 5.89% and a pro-forma cap rate of 10.78%. The asking price is $625,000, or $156,250 per unit. This turnkey investment is ideally situated in Binghamton, offering strong rental income potential and proximity to key amenities, making it a highly desirable student rental property. The property's Class C designation reflects its solid construction and recent upgrades. This is a rare opportunity to acquire a well-maintained, high-potential income-generating asset in a thriving student market.

Highlights

  • 4,914 SF building
  • Completely renovated in 2023 with new plumbing, water heaters, furnace, bathrooms, and kitchen.
  • Four modern, spacious units.
  • Prime Binghamton location, turnkey investment.
  • Strong rental income potential, ideal for student rentals.
  • Excellent proximity to key amenities.

Property Details for 126 Murray St

Property type
Dormitories, Student housing
Square Feet
4,914 SF
Class
C
Year Built/Renovated
1960/2023
Buildings
1
Stories
3
Units
4

Location Insight

City
Binghamton
County
Broome
State
New York
Latitude
42.1003054
Longitude
-75.9205588
126 Murray St, Binghamton, New York

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126 Murray St
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