5 Leroy St

Highlights:

• • 10-Bed Student Housing Investment
• • Group Lease Structure with Simplified Management
• • Tenants Responsible for Utilities
• • Off-Street Parking Advantage
• • Prime West Side Student Housing Location
• • Walkable to Campus Bus Routes and Downtown
• • Established Rental Corridor with Consistent Demand

Description:

Offered for sale is 5 Leroy Street, a 10-bed student housing asset located within Binghamton’s established student corridor. The property is positioned just one block from Front Street and within close proximity to Downtown Binghamton’s restaurants, retail, and entertainment amenities, a key driver of tenant demand in this submarket.

The building is currently leased to a sorority, providing cohesive occupancy and simplified management compared to traditional by-the-bed leasing. Group occupancy of this nature often supports strong renewal probability and stable rent collections. Tenants are responsible for internet, electric, and gas. The property features a large floor plan with common living areas and bedroom density that aligns well with student group housing demand.

The property also benefits from off-street parking, a meaningful competitive advantage in this location where parking availability is limited and highly valued by tenants.

From a market perspective, the combination of walkability to downtown, proximity to transportation routes, and established student housing concentration supports durable demand and consistent leasing performance.

5 Leroy Street presents an opportunity to acquire a well-located student housing asset with stable occupancy, functional parking, and long-term positioning within one of Binghamton’s most proven rental areas.

The property is located within the City of Binghamton’s R-3 zoning district, the primary classification supporting higher density residential use and established student housing. This zoning framework provides long term regulatory alignment for continued student occupancy and positions the asset within one of the City’s most proven rental submarkets.

Situated south of Main Street, the property lies within one of the most sought after student housing corridors in Binghamton. This area consistently attracts strong leasing demand due to its concentration of student residences, proximity to neighborhood services, and accessibility to campus transportation.

The property is within walking distance of the SUNY bus line, providing direct connectivity to Binghamton University. It is also walkable to Downtown Binghamton’s restaurants, retail, and entertainment venues, a key driver of tenant preference in this submarket.

From a market perspective, the combination of R-3 zoning, established student density, transportation access, and downtown proximity supports continued rental demand, strong occupancy levels, and long term asset stability.

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