Three-Family Student Housing
For Sale
$269,000
24 Mather Street, Binghamton, NY 13905
3-unit property configured for 18–20 student bedrooms, with upgrades underway and a sizable basement for shared space.
Property Size6,654 SF
Days on Market107
Property Features for 24 Mather Street
General Information
Standard status
Active
Size
6,654 SF
Property subtype
Multifamily
Zoning
R3
Additional Details
Multifamily Units
3
Building Details
Building Size
6,654 SF
Year Built
1917
Tenancy
Multi
Listing Agency:
SVN Innovative Commercial Advisors
(607) 481-5660
Listed By:
Coty Lunn · License #10401324866
(607) 481-5660
Source:
Svn
Added: May 16
Changed: Aug 26
Last Checked: Aug 29 at 7:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Innovative Commercial Advisors
Investment Insights
Based on property information with market context.
This three-family residential income property is configured for approximately 18–20 bedrooms and has historically operated as a student rental, supporting a per-bedroom rental model. The basement is large and was previously used as a common area with a bar, and it can be restored as shared tenant space. Ownership has already begun improvements, including upgraded electrical/panel work and brand-new tile and renovation materials that are on-site and included in the sale.
The property is located within the R3 zoning district, allowing for student housing use. Seller projections estimate gross income of approximately $140,000 to $156,000 annually based on $650 per bedroom, with additional income potential from washers and dryers. The current configuration and ongoing updates position the building for higher-end renovations and finish upgrades aimed at driving rent growth.
The property is located within the R3 zoning district, allowing for student housing use. Seller projections estimate gross income of approximately $140,000 to $156,000 annually based on $650 per bedroom, with additional income potential from washers and dryers. The current configuration and ongoing updates position the building for higher-end renovations and finish upgrades aimed at driving rent growth.
Key Highlights
- 3‑family property built in 1917 in the R3 zoning district
- Configured for 18–20 student bedrooms, supporting a per‑bed rental model
- Projected gross income of about $140,000–$156,000 annually at $650 per bedroom
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - 3-unit property configured for 18–20 student bedrooms, with upgrades underway and a sizable basement for shared space.
Where is this triplex located?
The property is located at 24 Mather Street Binghamton, NY.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 3‑family property built in 1917 in the R3 zoning district; Configured for 18–20 student bedrooms, supporting a per‑bed rental model; Projected gross income of about $140,000–$156,000 annually at $650 per bedroom
