24 Centenary St, Binghamton, NY 13901

This 11-unit apartment building at 24 Centenary St, Binghamton, NY 13901, presents a compelling investment opportunity. Built in 1965, this solid brick structure boasts 6,878 square feet on a 0.04-acre lot, situated in the Downtown Business District. The property features a mix of unit sizes, including one 2-bedroom and ten 1-bedroom apartments, catering to the high demand student housing market. Its prime location, just two buildings from Court Street and near the Koffman Southern Tier Incubator, offers easy access to SUNY bus lines and downtown amenities. The building enjoys a strong rental history with minimal vacancies, resulting in a Net Operating Income (NOI) of $63,786 and a 7.10% cap rate. The asking price is $875,000, translating to $81,727 per unit and $130.71 per square foot. This property offers a rare chance to capitalize on the robust student housing market in a highly desirable downtown Binghamton location. The building's solid construction and consistent occupancy make it an attractive investment with significant potential for future growth.