5 Leroy St
5 Leroy St
Binghamton, NY 13905
Highlights
- • 10 bed student housing asset
- • Located one block from Front Street
- • Immediate proximity to Downtown Binghamton restaurants, retail, and nightlife
- • Situated within an established student housing corridor
- • Currently leased to a sorority providing cohesive group occupancy
- • Simplified management structure compared to individual by the bed leasing
- • Off street parking, a competitive advantage in this location
- • Strong walkability and access to student transportation routes
- • Positioned in a proven rental submarket with consistent student demand
- • Attractive opportunity for investors seeking durable cash flow within Binghamton’s core student housing market
Description
Offered for sale is 5 Leroy Street, a 10 bed student housing asset located in the heart of Binghamton’s established student corridor. The property is positioned just one block from Front Street and within immediate proximity to Downtown Binghamton’s restaurants, retail, and entertainment amenities, a key driver of tenant demand in this submarket.
The building is currently leased to a sorority, providing cohesive occupancy and simplified management relative to traditional by the bed leasing. Group occupancy of this nature often supports strong renewal probability and stable rent collections. The tenants pay for Internet, Electric and Gas.
The property also benefits from off street parking, a meaningful competitive advantage in this location where parking availability is limited and highly valued by tenants.
From a market perspective, the combination of walkability to downtown, proximity to primary transportation routes, and established student housing concentration supports durable demand and consistent leasing performance.
5 Leroy Street presents an opportunity to acquire a well located student housing asset with stable occupancy, functional parking, and long term positioning within one of Binghamton’s most proven rental corridors.
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.
