For Sale
$325,000

195 Floral AveJohnson City, NY 13790

9-Bed, 3-Unit Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
122
This exceptional three-unit multifamily property, located at 195 Floral Avenue in Johnson City, New York, presents a compelling investment opportunity. Boasting 3,483 square feet on a 6,250 square foot lot, this 3-story, 1900-built building is currently 100% occupied by Binghamton University students under leases extending until May 2024. Each of the three units offers nine bedrooms in total, providing a strong rental income stream. Recent upgrades include new vinyl siding, replacement windows, updated electrical systems, a new furnace, and a new hot water heater. Kitchens and bathrooms feature new tile. Tenants are responsible for their own utilities. The property's convenient location is a key advantage, situated on the OCC and county bus route, just five minutes from the Binghamton University campus and within walking distance of the university's pharmacy and nursing schools. The property is zoned 230 and has an APN of 034603-143-081-0001-011-000-0000. The asking price is $325,000, representing a price per square foot of $93.31 and a price per unit of $108,333.33. This turnkey investment offers immediate cash flow and significant potential for long-term appreciation in a high-demand student housing market.

Highlights

  • Three-unit multifamily property in Johnson City, NY, totaling 3,483 square feet on a 6,250 square foot lot.
  • 100% occupied by Binghamton University students with leases extending to May 2024.
  • Nine bedrooms per unit, generating strong rental income.
  • Recent renovations include new siding, windows, electrical, furnace, hot water heater, and kitchen/bathroom tile.
  • Convenient location near Binghamton University, on bus routes, and walking distance to university schools.
  • Asking price: $325,000 ($93.31/SF, $108,333/unit).

Property Details for 195 Floral Ave

Property type
Dormitories, Student housing
Square Feet
3,483 SF
Year Built
1900
Buildings
1
Stories
3
Units
3

Location Insight

City
Johnson City
County
Broome
State
New York
Latitude
42.1081233
Longitude
-75.9566209
195 Floral Ave, Johnson City, New York

FAQs

What type of property is this?
Dormitory - 9-Bed, 3-Unit Multifamily Investment
Where is the dormitory located?
The property is located at 195 Floral Ave Johnson City, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three-unit multifamily property in Johnson City, NY, totaling 3,483 square feet on a 6,250 square foot lot.; 100% occupied by Binghamton University students with leases extending to May 2024.; Nine bedrooms per unit, generating strong rental income.
How can I contact the broker?
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195 Floral Ave
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