21 Mather St Binghamton, NY 13905
- Commercial real estate
- 3,578 SF
Current Use by Public Records
- Commercial real estate
Property Details for 21 Mather St
- Year built
- 1960
- Property size
- 3,578 SF
- Property type
- Commercial real estate
- APN
- 160.31-1-6
Description
This exceptional 5-unit apartment building, located at 21 Mather St, Binghamton, NY 13905 (APN 160.31-1-6), presents a compelling investment opportunity. The property, built in 1960 and extensively renovated in 2023, boasts a total of 3,578 square feet and offers a strong 7.60% cap rate with a net operating income (NOI) of $22,799. The asking price is $350,000, translating to $60,000 per unit and $83.85 per square foot. Significant improvements completed in 2023 include a new roof, updated plumbing and sewer lines, updated electrical systems, updated HVAC systems, and new water heaters in all five units. This well-maintained building is situated minutes from downtown Binghamton and all its amenities, offering significant upside potential due to rents currently below market value. The property is a solid investment for those seeking a multifamily property with strong cash flow and appreciation potential in a desirable location. This is a turnkey opportunity with minimal deferred maintenance. All units are currently occupied.
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
- -75.9242999
- Latitude
- 42.1026232
