Eight-Unit Apartment
For Sale
$615,000
59 Grand Ave, Johnson City, NY 13790
Eight one-bedroom units make up this apartment building near major healthcare and education anchors in Johnson City.
Property Size5,370 SF
Days on Market124
Property Features for 59 Grand Ave
General Information
Standard status
Active
Size
5,370 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
8
Building Details
Building Size
5,370 SF
Year Built
1970
Listing Agency:
SVN Innovative Commercial Advisors
Listed By:
Scott Warren, CCIM, CIREC · License #NY #10491212432
(607) 621-0439
Source:
Svn
Added: Jul 3
Changed: Nov 1
Last Checked: Nov 3 at 5:15AM
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
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Investment Insights
Based on property information with market context.
This eight-unit apartment building features eight one-bedroom units within a single multifamily structure. It is offered for sale as a residential income property with a consistent unit mix.
59 Grand Ave is positioned in the heart of Johnson City’s expanding healthcare and education corridor, with close walking access to the new UHS medical complex, Binghamton University’s School of Pharmacy and Pharmaceutical Sciences, and Decker College of Nursing and Health Sciences.
For buyers seeking a straightforward multifamily configuration, this property provides eight separate one-bedroom units in a location centered on prominent employment and academic anchors.
59 Grand Ave is positioned in the heart of Johnson City’s expanding healthcare and education corridor, with close walking access to the new UHS medical complex, Binghamton University’s School of Pharmacy and Pharmaceutical Sciences, and Decker College of Nursing and Health Sciences.
For buyers seeking a straightforward multifamily configuration, this property provides eight separate one-bedroom units in a location centered on prominent employment and academic anchors.
Key Highlights
- 8‑unit multifamily building with eight one‑bedroom units
- Year built: 1970
- Located near major healthcare and education anchors in Johnson City
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,737
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$894,740
$894.7K
Cap Rate 7%
$639,100
$639.1K
Cap Rate 9%
$497,078
$497.1K
Market Conditions
NOI Build-Up for 5,370 SF
Gross rent
$87.0K $16.20/SF
− Vacancy
−$5.7K −$1.05/SF
EGI
$81.3K $15.15/SF
− OpEx
−$36.6K −$6.82/SF
NOI
$44.7K $8.33/SF
Area
Broome County, NY
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$894,740
Cap Rate 7%
$639,100
Cap Rate 9%
$497,078
Alternative Uses
Best Use
Apartment 5plus
$639.1K
$559.2K – $745.6K
NOI $44,737 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,258 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
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Business Placement
Demographics for 13790, NY
18,478
Population
9,585
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
89%
High-School Grad
27.2 sq mi
ZIP Area
679
Density / Sq Mi
$54,764
Median Household Income
$37,360
Median Earnings
$985
Median Rent
$117,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom units make up this apartment building near major healthcare and education anchors in Johnson City.
Where is this apartment building located?
The property is located at 59 Grand Ave Johnson City, NY.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 8‑unit multifamily building with eight one‑bedroom units; Year built: 1970; Located near major healthcare and education anchors in Johnson City
