5 Maria MnrBinghamton, NY 13903

Property Details for 5 Maria Mnr

Year built

1980

Lot size

0.23 AC

Property size (Sq ft)

1,779 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This well-maintained four-unit apartment building in Binghamton, NY, presents a compelling investment opportunity. Located at 5 Maria Manor, this 1,779 square foot property boasts 100% occupancy, generating a strong net operating income (NOI) of $22,793, representing a 10.13% cap rate. The asking price is $225,000, or $56,250 per unit. Built in 1980, the property sits on a 0.23-acre lot and offers convenient off-street parking. Its prime location offers easy access to major roadways including Vestal Ave, NYS Route 434, and the Brandywine highway interchange, placing it approximately one mile from downtown Binghamton and near Binghamton General Hospital. The property's proximity to 123 Park Ave and 7 Maria Manor presents potential for portfolio consolidation. The strong rental demand in this area, coupled with the property's proximity to local amenities such as Ross Park Zoo, dining, shopping, and entertainment options, ensures consistent tenant occupancy. Separate utilities for each unit simplify management. This fully leased quadplex is an excellent addition to any investment portfolio.

Location Insight

City

Binghamton

County

Broome

State

New York

Latitude

42.0789

Longitude

-75.914

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