116 Murray
116 Murray St
Binghamton, NY 13905
Highlights
- • Located at 116 Murray Street in Binghamton’s established West Side student housing corridor
- • Situated in R-3 zoning supporting higher density residential and student occupancy
- • South of Main Street in one of the most desirable student rental submarkets
- • Offered at $38,778 per bed
- • Central air conditioning, a competitive amenity in the local student housing market
- • Off street parking, a limited and valuable feature in this corridor
- • Walking distance to SUNY bus line providing direct campus access
- • Walkable to Downtown Binghamton restaurants, retail, and entertainment
- • Positioned within a proven student housing concentration with consistent leasing demand
- • Attractive price per bed relative to replacement cost and competing inventory
- • Strong long term fundamentals driven by location, zoning alignment, and tenant preference
Description
Offered for sale is 116 Murray Street, a student housing asset located within the City of Binghamton’s R-3 zoning district, south of Main Street. This corridor remains one of the most established and consistently leased student housing areas in the market.
The property is being offered at $38,778 per bed, positioning it competitively within the local student housing inventory on a price per bed basis. This pricing metric provides a clear acquisition benchmark relative to replacement cost and competing assets in the submarket.
A distinguishing feature of this property is central air conditioning, an amenity not commonly found in many legacy student housing properties in Binghamton. In addition, the building offers off street parking, a meaningful competitive advantage in a corridor where parking availability is limited and highly valued by tenants.
The combination of R-3 zoning, location within the core student housing district, and functional amenities such as central air and dedicated parking supports continued tenant demand and long term income stability. This offering presents a well positioned opportunity for investors seeking durable cash flow within Binghamton’s established student housing market.
The property is located within the City of Binghamton’s R-3 zoning district, the primary classification supporting higher density residential use and established student housing. This zoning framework provides long term regulatory alignment for continued student occupancy and positions the asset within one of the City’s most proven rental submarkets.
Situated south of Main Street, the property lies within one of the most sought after student housing corridors in Binghamton. This area consistently attracts strong leasing demand due to its concentration of student residences, proximity to neighborhood services, and accessibility to campus transportation.
The property is within walking distance of the SUNY bus line, providing direct connectivity to Binghamton University. It is also walkable to Downtown Binghamton’s restaurants, retail, and entertainment venues, a key driver of tenant preference in this submarket.
From a market perspective, the combination of R-3 zoning, established student density, transportation access, and downtown proximity supports continued rental demand, strong occupancy levels, and long term asset stability.
