18 North StBinghamton, NY 13905

Property Details for 18 North St

Year built

1960

Lot size

1,960.00 AC

Property size (Sq ft)

10,920 SF

Property type

Apartment buildings

Description

This exceptional 12-unit apartment building, located at 18 North St, Binghamton, NY 13905, presents a compelling investment opportunity. Boasting 10,920 square feet on a 1.96-acre lot, this Class A property offers a strong 9.46% cap rate and a substantial net operating income (NOI) of $115,874. Built in 1960 and recently fully renovated, the building features modern kitchens, updated bathrooms, new flooring, and refreshed common areas. The property is zoned R3 and approved for student housing, making it ideally situated to capitalize on the growing student population. Its prime location in Binghamton's West Side, between Murray and Oak Streets, provides convenient access to Main Street, bus lines, and the Court Street Bridge. A Walk Score of 70 ensures residents enjoy easy access to downtown amenities, restaurants, and nightlife. This turnkey property is ready for immediate income generation, offering a rare combination of high-end finishes, strong financials, and a desirable location. The asking price is $1,225,000. This is a truly exceptional opportunity for investors seeking a high-return, low-maintenance multifamily investment in a thriving New York market.

Location Insight

City

Binghamton

County

Broome

State

New York

Latitude

42.1015

Longitude

-75.9199

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