175 Chapin ST, Binghamton, NY 13905
175 Chapin ST, Binghamton, NY 13905
175 Chapin ST, Binghamton, NY 13905
175 Chapin ST, Binghamton, NY 13905
175 Chapin ST, Binghamton, NY 13905
175 Chapin ST, Binghamton, NY 13905
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$ 730,000
Est. payment | /mo

7,820 SqFt


$ 730,000
Est. payment | /mo

7,820 SqFt

Key Details

Property Type Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 7,820 sqft

Price per Sqft $93

MLS Listing ID R1702552

Construction Status Existing

HOA Y/N No

Year Built 1960

Annual Tax Amount $11,049

Lot Size 8,315 Sqft

Acres 0.1909

Lot Dimensions 66X126

Property Sub-Type Apartment

Property Description

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!

Location

State NY

County Broome

Area Binghamton-City-030200

Zoning YES

Direction Take Exit 4B toward Binghamton/Corning. Merge onto NY-17 W / I-86 W, then take Exit 72 for Front St/NY-11. Turn left onto Front St, merge onto Route 17C / Main St toward the Westside, then turn onto Chapin St. Property is on the right

Rooms

Basement Full

Interior

Heating Gas, Forced Air

Inclusions Equipment

Fireplace No

Exterior

Utilities Available Electricity Connected, Sewer Connected, Water Connected

Roof Type Flat

Total Parking Spaces 8

Building

Lot Description Rectangular, Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Concrete

Construction Status Existing

Schools

School District Binghamton

Others

Tax ID 030200-160-031-0002-007-000-0000

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Virtual Tour https://visithome.ai/5UCdKkWBmCha9tRo6FuZun?mu=ft

Listed by Keller Williams Realty Southern Tier & Finger Lakes

NEARBY SCHOOL & BUSINESS

Houstir Inc

+1(888) 897-9667

support@houstir.com

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175 Chapin ST