7 Tompkins St, Binghamton, NY, 13903

Highlights

• -Close to downtown Binghamton and bus line
• -Off street parking.
• -Solid rental history.
• -Value-Ad opportunity

Description

SVN Innovative Commercial Advisors presents a prime investment opportunity with the sale of this all-brick exterior 5-building complex, featuring 20 units and ideally situated near downtown Binghamton. The property is conveniently located on the bus line and within walking distance of Court Street. Each building offers one 2-bedroom apartment (approximately 558 sq. feet) and three 1-bedroom apartments (approximately 475 sq. feet). The complex includes an off-street parking lot at the back and garage spaces available for $50 per month. Additionally, coin-operated laundry facilities in the basement provide extra income potential. The apartments are generously sized with ample natural light. Updates include replacement windows in two buildings, and conversion of half the complex to electric baseboard heat. Tenants are responsible for electric costs, while the landlord covers gas. Value-add opportunity with renovations and potential to increase rents. The property has been under the same ownership for the past 12 years, with a refinance in 2021 and a recent switch to LLC.

Close to Mirabito Stadium, this property offers easy access to the bus line and is just a short drive from Downtown Binghamton's vibrant attractions. Residents can enjoy a dynamic mix of cultural and recreational activities, from diverse restaurants and shopping outlets to lively nightclubs. The neighborhood is enhanced by the scenic beauty of the Chenango River and the academic prestige of Binghamton University. With convenient proximity to local dining, entertainment, and shopping destinations, this property ensures both ease and a high quality of life for its residents.

Documents