327 Main StBinghamton, NY 13905

Property Details for 327 Main St

Year built

1965

Lot size

0.28 AC

Property size (Sq ft)

7,904 SF

Property type

Apartment buildings

Description

This exceptional 10-unit apartment building, located at 327 Main Street in Binghamton, NY, presents a compelling investment opportunity. Boasting 7,904 square feet on a 0.28-acre lot, this solid brick structure was built in 1965 and benefits from a prime location directly on Main Street. The property's strategic position offers easy access to SUNY Binghamton and public transportation bus lines, making it highly attractive to students and commuters. The building's zoning allows for student housing, further enhancing its potential. The unit mix includes six 2-bedroom units and four 1-bedroom units. Recent renovations and upgrades have been completed, contributing to the property's strong condition. The building enjoys a solid rent roll, with tenants responsible for utilities. This property offers a 9.50% cap rate and a net operating income (NOI) of $89,093, with an asking price of $938,000. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. Note that this property can be purchased in conjunction with 325 Main Street.

Location Insight

City

Binghamton

County

Broome

State

New York

Latitude

42.1103

Longitude

-75.9437

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