424 Conklin Ave Binghamton, NY 13903
- Commercial real estate
- 14,208 SF
- 0.74 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 424 Conklin Ave
- Lot size
- 0.74 lot acres
- Property size
- 14,208 SF
- Property type
- Commercial real estate
Description
This exceptional 17-unit apartment building, located at 424 Conklin Ave in Binghamton, NY, presents a compelling investment opportunity. The property boasts a substantial 14,208 square feet across three stories, situated on a 0.74-acre lot. Currently operating at 100% occupancy, this stabilized asset generates a strong net operating income (NOI) of $100,529, translating to an attractive 9.13% capitalization rate. The building features updated finishes and desirable tenant amenities, including balconies, on-site laundry facilities, and parking. Each unit is separately metered for efficient utility management. Its convenient location on a bus route enhances its appeal to a wide range of tenants. The property is zoned for residential use and is not subject to a ground lease. This well-managed multifamily property offers a solid return on investment with significant potential for future growth. Financial details and pricing are available upon request. This is a rare opportunity to acquire a high-performing multifamily asset in a desirable location. The property consists of one building with 17 units and is situated in Broome County, NY, zip code 13903.
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
- -75.876986
- Latitude
- 42.1001781
