Investment Property for Sale at 13 Walnut Street in Binghamton, New York for $255,000

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13 Walnut Street | BINGHAMTON

$255,000 | 6 Beds (2 Full) | 1,828 Sq. Ft.

13 Walnut Street presents a compelling value-add opportunity in Binghamton’s established West Side student-housing market. The R-3-zoned property consists of two three-bedroom units and will be delivered vacant, providing a new owner with the opportunity to renovate and reposition the property. Offered at $255,000, or approximately $42,500 per bed, the property is priced below the approximately $60,000-per-bed average for stabilized student-housing properties in the market. Based on projected rents of $725 per bed per month, the stabilized pro forma estimates annual net operating income of $33,423, representing an approximate 13% capitalization rate at the asking price. This offering provides an attractive acquisition basis with meaningful potential for income growth and value creation. GBAR MLS #337434

Directions to property: South of Leroy St.

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: 
Scott Warren
Listing Agent Phone: 
607-621-0439
Listing Agent Email: 
scottwarrencre [at] gmail [dot] com (send a message)
Listing Office Name: 
INNOVATIVE COMMERCIAL ADVISORS
Listing Office Phone: 
607-203-1826