123 Oak St Binghamton, NY 13905
- Commercial real estate
- 3,356 SF
- 0.20 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 123 Oak St
- Year built
- 1960
- Lot size
- 0.20 lot acres
- Property size
- 3,356 SF
- Property type
- Commercial real estate
Description
This six-unit apartment building at 123 Oak St, Binghamton, NY 13905, is offered at $299,999. The property boasts 3,356 square feet on a 0.2-acre lot and features six one-bedroom units, each priced at $50,000. Built in 1960 and extensively renovated in 2022, the building enjoys 100% occupancy, generating a net operating income (NOI) of $2,843 and a 0.95% cap rate. The property is zoned R3, permitting student housing, a highly desirable feature given its proximity to downtown Binghamton, bus lines, and the Court St Bridge. A walk score of 73 underscores its convenient location. Recent upgrades include a new roof (2022) and a boiler less than 10 years old. Its location near Main St and the strong rental demand in the area make this a compelling investment opportunity. The building is currently occupied by a mix of tenants, including some students, presenting a potential for full conversion to student housing.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.9196746
- Latitude
- 42.1003849
