1 - 3 Mather Street
1 - 3 Mather St
Binghamton, NY 13905
Highlights
- 51 Units / 102 Beds – All two-bedroom units
- Two Solid Brick Buildings
- New Roofs on Both Buildings – Approx. $160,000 in recent capital improvements
- Prime Student Housing Location
- Served by SUNY & Public Bus Lines
- Walking Distance to Court Street Bridge & Downtown Binghamton
- Must Be Sold with 98 Main Street – Provides required on-site/off-site parking
- Strong Long-Term Student Rental Demand
Description
Offered for sale is a well maintained 51 unit student housing complex located in Binghamton’s highly sought after West Side. The property consists entirely of two bedroom units across two buildings, offering scale and strong demand in a proven student rental market.
Both buildings feature new roofs, representing approximately $160,000 in recent capital improvements, minimizing near term deferred maintenance. Utility configurations provide operational efficiency and flexibility. 1 Mather Street is serviced by a single gas meter with separate electric meters, while 3 Mather Street has separate gas and electric meters and individual furnaces in every unit.
The property is ideally positioned one building off Main Street and within walking distance to the Court Street Bridge, providing direct access to Downtown Binghamton and the West Side. The location is served by SUNY and public bus lines and boasts a Walk Score of 83, allowing tenants convenient access to restaurants, retail, and neighborhood amenities.
The site is currently zoned for 54 units, presenting immediate upside through the potential addition of three basement units that can be constructed under existing zoning. This built in expansion opportunity allows investors to increase density and income without pursuing a zoning change, further strengthening long term value.
Additionally, the property benefits from strong exposure with an average daily traffic count of approximately 12,690 vehicles. This asset presents a compelling opportunity for investors seeking a stabilized, well located student housing investment with recent capital improvements and clear pathways for future revenue growth.
Located in the heart of Binghamton’s desirable West Side, this site offers an exceptional opportunity for a student housing development. Just one building off Main Street and a short walk to the Court Street Bridge, the property provides direct and convenient access to Downtown Binghamton and the West side of Binghamton.
The location is serviced by both SUNY and public bus lines, making daily transportation effortless for students and residents. With a strong Walk Score of 83, the area supports a true pedestrian lifestyle, allowing easy access to West Side and Downtown restaurants, shops, and everyday amenities.
The property also benefits from excellent visibility and exposure, with an average daily traffic count of approximately 12,690 vehicles. This combination of walkability, transit access, and proximity to dining, retail, and entertainment makes the location highly attractive for student housing and mixed-use residential development.
