21 Mather St Binghamton, NY 13905

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.