99 Oak St

Highlights:

• 24 Units | 40 Beds
• $246,206 Reported NOI
• 8.21% Cap Rate
• Approximately $890,960 in Capital Improvements
• Fully Renovated Student Housing Asset
• Modernized Interiors and Upgraded Common Areas
• Potential Assumable $2.01M Non-Recourse Loan
• 6.68% Fixed Interest Rate Through June 2033
• Walk Score of 80
• Access to Downtown Binghamton and Public Transportation

Description:

99 Oak Street is a fully renovated, 24-unit, 40-bed student housing investment located on Binghamton’s West Side. Offered at $2,999,000, the property generates reported net operating income of $246,206, representing an 8.21% cap rate. Approximately $890,960 has been invested in property improvements, including modernized apartments, upgraded common areas, and enhancements designed to improve functionality, appearance, and tenant appeal.

The offering provides investors with immediate income, operational scale, and reduced near-term capital requirements. Qualified buyers may also have the opportunity to assume approximately $2.01 million in fixed-rate, non-recourse financing maturing in June 2033. The property is positioned within Binghamton’s established student rental market, with access to Downtown Binghamton, public transportation, dining, retail, and the Court Street Bridge.

99 Oak Street is located on Binghamton’s West Side, within walking distance of Downtown Binghamton, the Court Street Bridge, restaurants, entertainment, retail services, and public transportation. The surrounding neighborhood contains a significant concentration of student-oriented rental housing and provides convenient access to Downtown amenities and transportation serving Binghamton University.

The property’s Walk Score of 80 supports a walkable residential environment, while nearby transit routes provide connectivity to the university’s main campus and other major educational and employment destinations.

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