175 Chapin Street, Binghamton, NY 13905
sale
$730,000
|
Apartment
Courtesy Of Keller Williams Realty Southern Tier & Finger Lakes
Turn-key investment opportunity! Excellent 8-unit multi-family property featuring eight individual 1-bedroom apartments with a strong Net Operating Income of $65,647 after expenses. Landlord utility expenses (water, sewer, and common electric) total just $2,852/year. The building offers plenty of off-street parking behind the building for each tenant and is designed for low-friction management, featuring 9 separate electric meters (8 tenant-paid, 1 landlord meter for common spaces). Additional income stream provided by on-site coin-operated laundry facilities generating approximately $2,000/year ($500/qtr). Security-enabled building features a locked front entry with postal key access, plus a remote-viewable security camera system that transfers to the new owner. Well-maintained property with a solid rental history, established rental schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs. Perfect addition to any portfolio!
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Property Features
- Age: Over 50 Years Old
- Building Units: 8
- Exterior Type: Concrete
- Floors: 2
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: R1702552
- Parking Spaces: 8
- Roof Type: Flat
- Rooms: Basement
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