158 Chapin Street | BINGHAMTON
Turn-key investment opportunity! Excellent 5-unit multi-family property featuring five individual 1-bedroom apartments delivering a strong Net Operating Income (NOI) of $37,539 after expenses, representing a solid 10% cap rate. Total landlord utility expenses (electric, gas, water, and sewer) are $8,809/year. The property includes high-speed internet bundled into operations to power the remote-accessible security camera system, which transfers to the new owner upon sale. Well-maintained with a solid rental history, established annual rent schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs. A fantastic addition to any portfolio! GBAR MLS #337156
Directions to property: From I-86 - Take Exit 4B toward Binghamton/Corning. Merge onto NY-17 W / I-86 W and take Exit 72 for Front St (NY-11). Turn left onto Front St, cross the bridge onto Route 17C / Main St, then turn left onto Chapin St. 158 Chapin St will be on your left.
