Eight-Unit Apartment
59 Grand Ave Johnson City, NY 13790
59 Grand Ave, Johnson City, NY, 13790
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For Sale
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Eight one-bedroom units make up this apartment building near major healthcare and education anchors in Johnson City.
Property Size5,370 SF
Price / SF$116.39
Days on Market25
Property Features for 59 Grand Ave
General Information
- Standard status
- Active
- Size
- 5,370 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing agency
SVN Innovative Commercial Advisors
(607) 621-0439
Listed by
Scott Warren · License #10301220936
Source
Crexi
Added: Jun 29 Updated: Jul 23 at 5:06AM Checked: Jul 23 at 5:06AM
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 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
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 | $87.0k | $16.20 |
| − Vacancy | −$5.7k | −$1.05 |
| EGI | $81.3k | $15.15 |
| − OpEx | −$36.6k | −$6.82 |
| NOI | $44.7k | $8.33 |
5,370 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$639.1K
$559.2K – $745.6K
NOI $44,737 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,258 @ 7.0% cap · market cap 14.92%
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 - 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 $625,000.
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
