126 Murray StBinghamton, NY 13905

Property Details for 126 Murray St

Year built

1960

Property size (Sq ft)

4,914 SF

Property type

Dormitories

Property subtype

Student housing

Description

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.

Location Insight

City

Binghamton

County

Broome

State

New York

Latitude

42.1003

Longitude

-75.9206

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].