Fully Renovated Student Housing
For Sale
$2,850,000
99 Oak St, Binghamton, NY 13905
A fully renovated 24-unit, 40-bed student housing asset with modernized interiors and upgraded common areas.
Property Size23,654 SF
Days on Market144
Property Features for 99 Oak St
General Information
Standard status
Active
Size
23,654 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
24
Building Details
Building Size
23,654 SF
Year Built
1970
Tenancy
Multi
Listing Agency:
SVN Innovative Commercial Advisors
Listed By:
Scott Warren, CCIM, CIREC · License #NY #10491212432
(607) 621-0439
Source:
Svn
Added: Jun 3
Changed: Oct 10
Last Checked: Oct 23 at 5:22AM
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.
99 Oak St presents a fully renovated student housing building comprising 24 units and approximately 40 beds. The property has completed a substantial capital improvement program, totaling approximately $890,960, with modernized interiors, upgraded common areas, and updated living spaces.
The building is located within Binghamton’s established student housing market, with walking access to Downtown Binghamton and the Court Street Bridge. A Walk Score of 80 supports the area’s walkability.
This asset is positioned as turnkey for qualified buyers, with the potential for an assumable non-recourse loan.
The building is located within Binghamton’s established student housing market, with walking access to Downtown Binghamton and the Court Street Bridge. A Walk Score of 80 supports the area’s walkability.
This asset is positioned as turnkey for qualified buyers, with the potential for an assumable non-recourse loan.
Key Highlights
- Fully renovated 24‑unit, 40‑bed student housing asset
- Approximately $890,960 in capital improvements completed
- Modernized interiors plus upgraded common areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,058
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,941,160
$3.9M
Cap Rate 7%
$2,815,114
$2.8M
Cap Rate 9%
$2,189,533
$2.2M
Market Conditions
NOI Build-Up for 23,654 SF
Gross rent
$383.2K $16.20/SF
− Vacancy
−$24.9K −$1.05/SF
EGI
$358.3K $15.15/SF
− OpEx
−$161.2K −$6.82/SF
NOI
$197.1K $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%
$3,941,160
Cap Rate 7%
$2,815,114
Cap Rate 9%
$2,189,533
Alternative Uses
Best Use
Apartment 5plus
$2.82M
$2.46M – $3.28M
NOI $197,058 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.87M
$5.13M – $6.85M
NOI $410,785 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
24
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,110
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A fully renovated 24-unit, 40-bed student housing asset with modernized interiors and upgraded common areas.
Where is this apartment building located?
The property is located at 99 Oak St Binghamton, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Fully renovated 24‑unit, 40‑bed student housing asset; Approximately $890,960 in capital improvements completed; Modernized interiors plus upgraded common areas
