162 Chapin St

162 Chapin St, Binghamton, NY 13905

Accepting Offers
162 Chapin St162 Chapin St162 Chapin St162 Chapin St
Asking Price

$1,640,000

162 Chapin St

162 Chapin St, Binghamton, NY 13905

Asset Type: Real Estate

Estate: Leasehold

Year Built: 1900

Land Area: 0.36 Acres

Number of Units: 20

Property Type: Multifamily

Occupancy %: 90

Year Renovated: 2023

Number of Floors: 3

Property Size: 18,736 SF

Investment Highlights

  • • 20 unit apartment complex located in the City of Binghamton
  • • Situated within R-3 zoning supporting higher density residential and student occupancy
  • • Suitable for student housing with flexible leasing configurations
  • • Unit mix includes 13 one bedroom units, 6 two bedroom units, and 1 four bedroom unit
  • • Diversified income stream across multiple bedroom formats
  • • Walking distance to student and public bus lines serving Binghamton University
  • • Proximity to Downtown Binghamton restaurants, retail, and employment centers
  • • Fully sprinklered building enhancing life safety compliance
  • • Tenants pay their own electric service
  • • Established rental corridor with consistent demand
  • • Opportunity to capture student driven leasing velocity within a proven submarket

162 Chapin St

Offered for sale is a 20 unit apartment complex located in the City of Binghamton within the R-3 zoning district, a classification that supports higher density residential use and is well suited for student occupancy. The property’s zoning alignment provides long term regulatory consistency and positions the asset within an established rental corridor attractive to both traditional tenants and students. The unit mix consists of 13 one bedroom units, 6 two bedroom units, and 1 large four bedroom unit. This diversified configuration allows flexibility in leasing strategy, including individual student rentals or group occupancy, while maintaining broad appeal across multiple tenant profiles. The property is within walking distance to both public and student bus lines, providing direct connectivity to Binghamton University and Downtown Binghamton. The downtown core, including restaurants, retail, and service amenities, is also walkable, enhancing tenant convenience and supporting sustained demand. The building is fully sprinklered, strengthening life safety compliance and reducing operational risk. Tenants pay their own electric service, while the landlord covers gas and common electric, offering a manageable expense structure with potential for operational efficiencies. With R-3 zoning, transportation access, and proximity to downtown, this asset is well positioned for investors targeting student housing demand within a proven rental submarket of Binghamton.

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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