123 Oak StBinghamton, NY 13905

This six-unit apartment building at 123 Oak St, Binghamton, NY 13905, is offered at $299,999. The property boasts 3,356 square feet on a 0.2-acre lot and features six one-bedroom units, each priced at $50,000. Built in 1960 and extensively renovated in 2022, the building enjoys 100% occupancy, generating a net operating income (NOI) of $2,843 and a 0.95% cap rate. The property is zoned R3, permitting student housing, a highly desirable feature given its proximity to downtown Binghamton, bus lines, and the Court St Bridge. A walk score of 73 underscores its convenient location. Recent upgrades include a new roof (2022) and a boiler less than 10 years old. Its location near Main St and the strong rental demand in the area make this a compelling investment opportunity. The building is currently occupied by a mix of tenants, including some students, presenting a potential for full conversion to student housing.