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32 Broome St 6 Unit Apartment Building $757,356 CAD ($126,226 CAD/Unit) 10% Cap Rate Binghamton, NY 13903
Investment Highlights
- Separate utilities paid by tenants
- Constructed in 1975 with enduring structural integrity
- Full occupancy to long term tenants, providing immediate income generation opportunity
- 6 units offering stable rental income from day 1
- Zoned R-3 for flexible usage and development potential (approved for students as well)
Executive Summary
Property Description
Welcome to 32 Broome Street in Binghamton, NY, a turnkey, fully occupied six-unit multifamily investment with recent renovations, rents near market levels, and separate utilities. Built in 1975 and situated in an R-3 zone, this well-maintained 5,824 SF property features six 2-bedroom, 1-bath apartments and a strong rental history. Additionally, it is in the student housing district and approved for student housing.
The efficient utility setup includes 7 electric meters and 7 gas meters, allowing tenants to pay their own gas and electric while the owner is responsible only for common-area utilities. Additional highlights include ample off-street parking, private rear balconies, and coin-operated laundry in the basement for added income potential. The basement also offers high ceilings and a solid concrete foundation, providing useful storage and utility space.
Conveniently located near bus lines, shopping, restaurants, and everyday amenities, 32 Broome Street offers stable in-place income, efficient operations, and a well-maintained asset for an investor looking to start or expand their portfolio. Schedule your showing today!
Location Description
Discover the thriving neighborhood surrounding this Binghamton property, offering an array of amenities and attractions for residents. Enjoy close proximity to Binghamton University, a renowned educational institution known for its academic excellence and vibrant campus community. Immerse yourself in the natural beauty of the nearby Chenango Riverwalk or explore the diverse dining, shopping, and entertainment options in the bustling downtown district. As a prospective Multifamily investor, you'll appreciate the area's dynamic blend of urban conveniences and scenic surroundings, creating an enticing lifestyle for future residents!
Welcome to 32 Broome Street in Binghamton, NY, a turnkey, fully occupied six-unit multifamily investment with recent renovations, rents near market levels, and separate utilities. Built in 1975 and situated in an R-3 zone, this well-maintained 5,824 SF property features six 2-bedroom, 1-bath apartments and a strong rental history. Additionally, it is in the student housing district and approved for student housing.
The efficient utility setup includes 7 electric meters and 7 gas meters, allowing tenants to pay their own gas and electric while the owner is responsible only for common-area utilities. Additional highlights include ample off-street parking, private rear balconies, and coin-operated laundry in the basement for added income potential. The basement also offers high ceilings and a solid concrete foundation, providing useful storage and utility space.
Conveniently located near bus lines, shopping, restaurants, and everyday amenities, 32 Broome Street offers stable in-place income, efficient operations, and a well-maintained asset for an investor looking to start or expand their portfolio. Schedule your showing today!
Location Description
Discover the thriving neighborhood surrounding this Binghamton property, offering an array of amenities and attractions for residents. Enjoy close proximity to Binghamton University, a renowned educational institution known for its academic excellence and vibrant campus community. Immerse yourself in the natural beauty of the nearby Chenango Riverwalk or explore the diverse dining, shopping, and entertainment options in the bustling downtown district. As a prospective Multifamily investor, you'll appreciate the area's dynamic blend of urban conveniences and scenic surroundings, creating an enticing lifestyle for future residents!
Property Facts
| Price | $757,356 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $126,226 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 10% | Building Size | 5,824 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1975/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.89/1,000 SF |
| Zoning | R3 - Residential Multi-Unit Dwelling District. | ||
| Price | $757,356 CAD |
| Price Per Unit | $126,226 CAD |
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 5,824 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2025 |
| Parking Ratio | 1.89/1,000 SF |
| Zoning | R3 - Residential Multi-Unit Dwelling District. |
Amenities
Unit Amenities
- Washer/Dryer Hookup
- Carpet
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 030200-160-044-0003-003-000-0000 | Improvements Assessment | $245,317 CAD |
| Land Assessment | $15,289 CAD | Total Assessment | $260,606 CAD |
Property Taxes
Parcel Number
030200-160-044-0003-003-000-0000
Land Assessment
$15,289 CAD
Improvements Assessment
$245,317 CAD
Total Assessment
$260,606 CAD
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32 Broome St
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