1 - 3 Mather St 1 Mather St 54 Unit Apartment Building $5,158,256 CAD ($95,523 CAD/Unit) 8.51% Cap Rate Binghamton, NY 13905

Offered for sale is a well maintained and professionally operated 51-unit student housing complex located on Binghamton’s West Side, one of the area’s most consistently leased student rental submarkets. The property consists entirely of two-bedroom units across two buildings, providing operational scale and a uniform unit mix in a proven demand location.
Units feature updated, durable interiors including modern cabinetry, hard surface flooring, and clean bathroom finishes, supporting tenant appeal and consistent occupancy. Both buildings also feature new roofs totaling approximately $160,000 in recent improvements, significantly reducing near term ownership risk. Utility configurations provide flexibility, with 1 Mather Street serviced by a single gas meter and separate electric meters, while 3 Mather Street includes separate gas and electric meters with individual furnaces in each unit.
The site is currently zoned for 54 units, creating immediate upside through the potential addition of three basement units under existing zoning. This built-in expansion potential allows an investor to increase density and revenue without pursuing zoning approvals.
This asset presents an opportunity to acquire a stabilized student housing investment with strong in-place cash flow, recent improvements, and clear pathways for future income growth.