5-Unit Multifamily with
288 Robinson Street Binghamton, NY 13904
288 Robinson Street, Binghamton, NY, 13904
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For Sale
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Well-maintained 5-unit property on a corner lot with four garages and a coin-operated basement laundry area.
Property Size3,600 SF
Price / SF$97.22
Days on Market41
Property Features for 288 Robinson Street
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Multifamily
Listing agency
SVN Innovative Commercial Advisors
Listed by
Lisberto Calvo Garcia · License #10401364805
Source
Crexi
Added: Jun 12 Updated: Jul 21 at 6:40AM Checked: Jul 21 at 6:40AM
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 well-maintained 5-unit multifamily property includes four apartments in the main building plus an attached single-family-style unit, creating a distinctive layout for tenants. The property features a coin-operated laundry area in the basement and four garages, with two currently generating additional rental income. Separate utility metering supports individual management, including separate electric meters for the main structure and separate electric and gas meters for the attached unit.
The building is situated on a corner lot. Reported major capital improvements include a metal roof (approximately 16 years old), a shingle roof section on the main building (approximately 8 years old), and a garage roof (approximately 8 years old). Additional updates include new blown-in insulation, many newer windows, and a well-maintained combi boiler serving the main building.
Configured as a mix of multi-unit and attached single-family-style space, the property also includes garage revenue potential and on-site laundry facilities, supported by a history of maintenance and upgrades described in the remarks.
The building is situated on a corner lot. Reported major capital improvements include a metal roof (approximately 16 years old), a shingle roof section on the main building (approximately 8 years old), and a garage roof (approximately 8 years old). Additional updates include new blown-in insulation, many newer windows, and a well-maintained combi boiler serving the main building.
Configured as a mix of multi-unit and attached single-family-style space, the property also includes garage revenue potential and on-site laundry facilities, supported by a history of maintenance and upgrades described in the remarks.
Key Highlights
- Well‑maintained 5‑unit property on a corner lot: four apartments plus an attached single‑family‑style unit
- Income potential includes 4 garages, with 2 currently generating additional rental income
- Coin‑operated laundry area in the basement provides an additional income stream
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.3k | $16.20 |
| − Vacancy | −$3.8k | −$1.05 |
| EGI | $54.5k | $15.15 |
| − OpEx | −$24.5k | −$6.82 |
| NOI | $30.0k | $8.33 |
3,600 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$428.4K
$374.9K – $499.9K
NOI $29,991 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$893.1K
$781.5K – $1.04M
NOI $62,519 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 5-unit property on a corner lot with four garages and a coin-operated basement laundry area.
Where is this apartment building located?
The property is located at 288 Robinson Street Binghamton, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Well‑maintained 5‑unit property on a corner lot: four apartments plus an attached single‑family‑style unit; Income potential includes 4 garages, with 2 currently generating additional rental income; Coin‑operated laundry area in the basement provides an additional income stream
