86 Oak ST Binghamton, NY 13905
17 Beds
5,778 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,778 sqft
Price per Sqft $103
MLS Listing ID R1666750
Bedrooms 17
Construction Status Existing
HOA Y/N No
Year Built 1970
Annual Tax Amount $11,623
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 51X99
Property Sub-Type Other
Property Description
86 Oak St
Priced to sell at $599,999, this property presents a high-upside multifamily opportunity in the core student housing corridor of Binghamton. Previously offered at a higher valuation, the asset has been repositioned for immediate sale.
Investment Highlights
~17.4% Pro-Forma Cap Rate
Based on projected NOI of $104,397 upon full stabilization
Multiple Upside Paths
Even without bringing the 8th unit online, projected NOI remains approximately $92,397, offering strong returns through operational improvements and market alignment over time
7 Units + 8th Unit Value-Add
Existing 7-unit configuration with additional 1-bedroom basement unit requiring full renovation prior to lease-up
Strong Rental Location
Positioned along major bus lines with easy access to downtown and key student demand drivers
Off-Street Parking + 51' Frontage
Desirable amenity that enhances tenant appeal and retention
R-3 Zoning (Multifamily Compliant)
Supports current use and long-term investment stability
Location
State NY
County Broome
Area Binghamton-City-030200
Direction corner of Eaton Pl
Rooms
Basement Full
Interior
Heating Gas, Other, See Remarks
Cooling Other, See Remarks
Flooring Other, See Remarks
Fireplace No
Appliance Electric Oven, Electric Range, Gas Water Heater, Refrigerator, See Remarks
Exterior
Exterior Feature See Remarks
Community Features Other, See Remarks
Utilities Available Sewer Connected, Water Connected
Roof Type Flat,Other,Shingle,See Remarks
Garage No
Building
Lot Description Near Public Transit, Rectangular, Rectangular Lot
Story 2
Sewer Connected
Water Connected, Public
Level or Stories Two
Structure Type Frame,Stucco
Construction Status Existing
Schools
Elementary Schools Horace Mann
Middle Schools West Middle
High Schools Binghamton High
School District Binghamton
Others
Senior Community No
Tax ID 86OakStreetBinghamton13905
Acceptable Financing Cash, Conventional, Other, See Remarks
Listing Terms Cash, Conventional, Other, See Remarks
Special Listing Condition Standard
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