77 Oak St

77 Oak St, Binghamton, NY 13905

Accepting Offers
77 Oak St
Asking Price

$290,000

77 Oak St

77 Oak St, Binghamton, NY 13905

Asset Type: Real Estate

Estate: Fee Simple

Land Area: 0.07 Acres

Number of Units: 2

Property Type: Multifamily

Year Built: 1910

Number of Floors: 2

Property Size: 2,046 SF

Investment Highlights

  • Duplex in Binghamton’s established West Side student-housing market
  • Desirable C-5 zoning
  • Asking price of $290,000
  • Attractive acquisition basis of approximately $48,333 per bed
  • Value-add opportunity with renovations needed
  • Projected annual rental income of $43,500 after renovation
  • Stabilized pro forma NOI of $38,269
  • Approximately 13% pro forma capitalization rate at the asking price
  • Walking distance to Downtown Binghamton and neighborhood amenities

77 Oak St

77 Oak Street presents a compelling value-add opportunity in the heart of Binghamton’s established West Side student-housing market. The duplex is offered in as-is condition at $290,000, or approximately $48,333 per bed, compared with an estimated market average of approximately $70,000 per bed for stabilized student-housing properties. Following renovation, the property is projected to generate annual rental income of $57,600 and pro forma net operating income of $38,269. At the asking price, this equates to an approximate 13% pro forma capitalization rate, providing an attractive acquisition basis with meaningful potential for income growth and value creation.

Sale FAQs

Investment Sales Broker

Scott Warren, CCIM

Scott Warren, CCIM

SVN | Innovative Commercial Advisors

NY License: 10491212432

Phone: XXXXXXXXXX

Email: XXXXXXXXXXXXXXXXXXXX

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