Three-Family Student Housing
24 Mather ST Binghamton, NY 13905
24 Mather ST, Binghamton, NY, 13905
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For Sale
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3-unit property configured for 18–20 student bedrooms, with upgrades underway and a sizable basement for shared space.
Property Size6,654 SF
Price / SF$40.43
Days on Market74
Property Features for 24 Mather ST
General Information
- Standard status
- Active
- Size
- 6,654 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1917
Listing agency
SVN Innovative Commercial Advisors
(607) 481-5660
Listed by
Coty Lunn · License #10401324866
Source
Crexi
Added: May 10 Updated: Jul 22 at 10:43AM Checked: Jul 22 at 10:43AM
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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
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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 ST 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
