86 Oak Street Binghamton
$520,000
86 Oak St, Binghamton, NY 13905
5,778 sqft
Building Size
0.1182 acres
Lot Area
Details:
Highlights:
- 8-unit multifamily investment opportunity
- 17 existing beds across 7 completed units
- Additional framed-out basement unit with potential upside, subject to approvals
- Located adjacent to approximately 1,300 student beds
- Walking distance to Downtown Binghamton
- Off-street parking and on-site laundry facilities
- Separate electric meters
- Strong value-add opportunity through renovation and lease optimization
- Convenient access to student bus routes, restaurants, and retail amenities
- Positioned in one of Binghamton's most active rental markets
Description:
86 Oak Street presents an opportunity to acquire an 8-unit multifamily property in one of Binghamton's strongest rental corridors. The property currently consists of seven completed units totaling 17 beds, along with a framed-out basement unit that may offer the potential to increase the unit and bed count, subject to municipal approvals. The building is separately metered for electric and includes on-site laundry facilities and off-street parking.
Positioned within walking distance of Downtown Binghamton and neighboring approximately 1,300 student beds, the property benefits from consistent demand drivers associated with the area's student housing market. Its proximity to bus routes, restaurants, retail, and entertainment venues supports continued tenant demand from both students and traditional renters. This offering presents a value-add opportunity through renovation, operational improvements, lease-up, and potential expansion of the existing unit count.
86 Oak Street is located on Binghamton's West Side, one of the region's most established rental markets. The property is within walking distance of Downtown Binghamton and benefits from convenient access to public transportation, major employment centers, dining, entertainment, and neighborhood services.
The surrounding area serves as a key housing hub for students attending nearby colleges and universities, with approximately 1,300 student beds located within the immediate vicinity. The combination of strong rental demand, walkability, and access to amenities has helped establish the neighborhood as a preferred location for both student and workforce housing.
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