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1 Mather St 54 Unit Apartment Building $5,035,449 CAD ($93,249 CAD/Unit) 8.51% Cap Rate Binghamton, NY 13905
Investment Highlights
- 51 Units / 102 Beds – All two-bedroom units
- Prime Student Housing
- New Roofs on Both Buildings – Approx. $160,000 in recent capital improvements
- Served by SUNY & Public Bus Lines
Executive Summary
Located in the heart of Binghamton’s desirable West Side, this site
offers an exceptional opportunity for a student housing
development. Just one building off Main Street and a short walk to
the Court Street Bridge, the property provides direct and convenient
access to Downtown Binghamton and the West side of Binghamton.
The location is serviced by both SUNY and public bus lines, making
daily transportation effortless for students and residents. With a
strong Walk Score of 83, the area supports a true pedestrian
lifestyle, allowing easy access to West Side and Downtown
restaurants, shops, and everyday amenities. The property also
benefits from excellent visibility and exposure, with an average daily
traffic count of approximately 12,690 vehicles. This combination of
walkability, transit access, and proximity to dining, retail, and
entertainment makes the location highly attractive for student
housing and mixed-use residential development
offers an exceptional opportunity for a student housing
development. Just one building off Main Street and a short walk to
the Court Street Bridge, the property provides direct and convenient
access to Downtown Binghamton and the West side of Binghamton.
The location is serviced by both SUNY and public bus lines, making
daily transportation effortless for students and residents. With a
strong Walk Score of 83, the area supports a true pedestrian
lifestyle, allowing easy access to West Side and Downtown
restaurants, shops, and everyday amenities. The property also
benefits from excellent visibility and exposure, with an average daily
traffic count of approximately 12,690 vehicles. This combination of
walkability, transit access, and proximity to dining, retail, and
entertainment makes the location highly attractive for student
housing and mixed-use residential development
Property Facts
| Price | $5,035,449 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $93,249 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 8.51% | Building Size | 54,000 SF |
| No. Units | 54 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 0.9/1,000 SF |
| Zoning | Service Commercial | ||
| Price | $5,035,449 CAD |
| Price Per Unit | $93,249 CAD |
| Sale Type | Investment |
| Cap Rate | 8.51% |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 54,000 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | Service Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | - |
| 1+1 | 30 | - | - |
1 1
Walk Score®
Very Walkable (83)
Property Taxes
| Parcel Number | 030200-160-030-0003-025-000-0000 | Improvements Assessment | $893,976 CAD |
| Land Assessment | $58,843 CAD | Total Assessment | $952,819 CAD |
Property Taxes
Parcel Number
030200-160-030-0003-025-000-0000
Land Assessment
$58,843 CAD
Improvements Assessment
$893,976 CAD
Total Assessment
$952,819 CAD
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1 Mather St
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