Home Details for 111 Oak Street

111 Oak Street in Binghamton, NY is a well-located brick 12-unit multifamily asset in one of the city’s strongest and most consistent student housing corridors. The property includes six 2-bedroom units and six 1-bedroom units and is within the approved R3 student housing district, allowing use as student rentals or long-term housing. Financials are based on a pro forma, as the building currently has higher vacancy due to recent and ongoing renovations. Once stabilized, it is projected to operate at a 10% cap rate with a 1.49 DSCR and an estimated 14% year-one cash-on-cash return, offering attractive long-term performance. Additional upside exists through the installation of coin-operated laundry in the basement. Located just one building off Main Street and a block from the Front Street Bridge, the property is within walking distance of the SUNY bus line and downtown’s restaurants, nightlife, and amenities — an ideal location for both student and workforce tenants.

• Cooling Information

  • Wall/Window Unit(s)

• Heating Information

  • Baseboard

• Water Features

  • Public

• Utilities

  • Cable Available

• Parking

  • None