140 Chapin St.
140 Chapin St
Binghamton, NY 13905
Highlights
- Prime West Side location within walking distance to the SUNY bus line and Downtown Binghamton
- Eleven units totaling fourteen beds and eleven baths
- Roof and boiler replaced in 2019
- Strong cash flow with all rents positioned below market for immediate upside
- Off street parking
- Secure building with controlled access
Description
Introducing 140 Chapin St, a prime investment opportunity in Binghamton, NY. This 6,117 SF building, boasting 11 units, presents a lucrative student housing investment in an excellent location in Binghamton's West Side.
The property enjoys a high 92.8% occupancy rate, ensuring immediate income generation. Zoned R-3, it offers flexibility for future development. Situated in one of the most established areas for student housing in the Binghamton market and walking distance to Downtown Binghamton ensures a steady occupancy and cash flow. Many of the rents are below market rent creating an opportunity for significant value add without the large renovation costs.
This location provides direct access to the strength of the Binghamton student housing market. Zoned R3, the property sits near the Chapin and Main intersection and is within a short walk to the SUNY bus route and the Court Street Bridge.
The surrounding area offers steady tenant demand due to its proximity to restaurants, shops, and the entire Downtown Binghamton commercial district. Investors gain a central position in a corridor that continues to attract students and young professionals.
