Investment Property for Sale at 24 Mather Street in Binghamton, New York for $259,000

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24 Mather Street | BINGHAMTON

$259,000 | 18 Beds (8 Full) | 6,654 Sq. Ft.

This 3-family property presents a high-impact value-add opportunity in a proven student housing market, located within the R3 zoning district allowing for this use. Configured for 18–20 bedrooms, the asset supports a scalable per-bed rental model. Projected gross income of approximately $140,000 to $156,000 annually, based on $650 per bedroom, with additional income potential from washers and dryers. The property features a strong existing layout, having historically operated as a student rental, with clear upside through higher-end renovations and finishes to drive rent growth. Ownership has begun improvements, including new, upgraded electrical/panel and brand-new tile and renovation materials are already on-site and included in the sale, reducing upfront capital. A large basement, previously used as a common area with a bar, can be restored as a shared tenant space, further enhancing appeal, retention, and overall NOI growth potential. Call today! GBAR MLS #335681

Directions to property: Main Street to Mather

Contact Information

To inquire about this property, please contact your REALTOR® directly if you are already working with one, or use the contact information provided below to contact the listing agent or brokerage directly. GBAR staff is unable to provide real estate listing information. Please contact one of our REALTOR® members if you need more information about this or any other listing.
Listing Agent Name: 
Coty Lunn
Listing Agent Phone: 
607-481-5660
Listing Agent Email: 
coty [dot] lunn [at] svn [dot] com (send a message)
Listing Office Name: 
INNOVATIVE COMMERCIAL ADVISORS
Listing Office Phone: 
607-203-1826