162 Court St, Binghamton, NY 13901

This exceptional investment opportunity presents a 10-unit, 56-bed student housing property at 162 Court Street, Binghamton, NY 13901. Boasting a 98% occupancy rate and a strong 9.00% cap rate, this property offers immediate cash flow and significant upside potential. The 20,372 square foot building underwent renovations in 2014 and is ideally situated in the heart of downtown Binghamton, directly serving Binghamton University, consistently ranked as a top-value public university. The property's 10 units, offering a variety of sizes, cater to both individual and group student rentals, ensuring consistent demand. Further value-add opportunities exist through the approximately 2,700 square feet of available retail space, which could be leased or converted to self-storage. With a recent surge in undergraduate applications and a proven track record of strong performance, this asset is poised for continued growth in a thriving student rental market. The asking price is $3,625,000, representing a price per unit of $362,500 and a price per square foot of $177.94. This is a rare chance to acquire a well-maintained, high-performing student housing property in a desirable location with substantial growth potential.