7 Tremont Ave.
7 Tremont Ave
Binghamton, NY 13903
Highlights
- • 12 One-Bedroom Units
- • Brick Construction
- • Off-Street Parking
- • $117,660 Current Gross Annual Income
- • Below-Market In-Place Rents
- • Measurable Rental Upside Through Lease Turnover
- • R-3 Zoning Supporting Multifamily Density
- • Immediate Access to Downtown and Highway Interchange
Description
Now available for sale, this 12-unit brick multifamily property is located on Binghamton’s West Side, directly adjacent to the State Street Bridge interchange, providing immediate access to Downtown Binghamton and primary transportation routes.
The property consists of twelve one-bedroom units with off-street parking and is situated within the City’s R-3 zoning district, supporting higher density residential use and established multifamily occupancy.
The asset is currently generating in-place rental income with identifiable upside potential. Average rents are below indicated market levels, creating an opportunity to increase revenue through natural lease turnover. The manageable 12-unit scale allows for efficient ownership and operational control.
This offering is well suited for investors seeking stabilized income with measurable rent growth potential in an established rental submarket.
This property boasts an exceptional location directly across from the State Street Bridge interchange, offering quick and easy access to Downtown Binghamton and major highways. Within walking distance, you'll find the scenic South Side Veterans Park and the Exchange Street Bridge, adding to the property's appeal. Just a short stroll takes you to the heart of Downtown Binghamton, where a vibrant array of shops, restaurants, and amenities await.
Situated in an R3 Zone, this location is ideal for student housing, further enhancing its strong rental demand. Its prime location ensures both convenience and desirability for residents.
