51 Seminary Ave
51 Seminary Ave
Binghamton, NY 13905
Highlights
- • Located at 51 Seminary Ave. 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 a 9.03% CAP Rate
- • 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
- • Strong long term fundamentals driven by location, zoning alignment, and tenant preference
Description
Offered for sale is a stabilized student housing asset located in the core of Binghamton’s West Side, the most established and consistently leased student corridor in the market.
The property is situated within the City’s R-3 zoning district, which supports higher density residential use and aligns with the surrounding student housing concentration south of Main Street. This location remains one of the most desirable areas for student tenants due to proximity to downtown amenities and established transportation routes.
Leases for the upcoming semester are secured at $625 per bed. Based on current operating expense ratios, the asset is projected to deliver a 9.03 percent capitalization rate, offering strong in-place yield relative to market alternatives.
This offering presents an opportunity to acquire a high performing student housing property in a proven location with established rental demand, stable regulatory positioning, and durable cash flow fundamentals.
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.
