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Gather @ Chenango 41 Chenango St 22 Unité Immeuble d’appartements À vendre Binghamton, NY 13901
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Faits saillants de l'investissement
- Unmatched Leasing Velocity - 100% occupied for 2024-2025
- 79 Beds across 20 Residential Units
- 97% Preleased - Projected 100% residential occupancy for Upcoming School Year (2025-2026)
- Featuring 5,994 square feet of Community and Amenity Space, plus 4,716 square feet of Commercial Space
Résumé de l'annonce
EXECUTIVE SUMMARY
Lee & Associates NYC is pleased present for sale, the student-housing asset at 41 Chenango Street in Binghamton, New York. Redeveloped in 2019, the building measures over 37,000 square feet and is positioned near the core of Downtown Binghamton.
Servicing the off-campus student population of SUNY Binghamton, the building delivers 79 beds across 20 units, 4,716 square feet of commercial space, and 5,994 square feet of common amenity space. The property offers tenants a discount to top-of- market rents, while providing a high-quality living experience that the wider market fails to deliver. The recent amenity upgrades include fitness space, a student lounge, private study rooms, as well as rare on-site parking. Additionally, the diverse unit-mix attracts both groups and individuals, widening the potential tenant base during each leasing cycle.
Investors have an opportunity to operate a quality asset at an attractive basis, capitalize on upside in commercial leasing, and benefit from positive rent growth in the near-term.
Unmated leasing velocity - excess demand
100% occupied for 2024-2025
97% Pre-Leased
Projected 100% occupancy for upcoming school year
Value-add opportunity
Upgrade amenities that exist to boost potential residential rent
Conversion and outsourcing of excess amenity space (potential fitness-use)
Successfully passed back electric to 10 units for the current school year
Opportunity to pass back electric to the remaining units, reducing expenses by an additional $27k
Competitive advantage in the market
High ceilings
Solid wood flooring
Exposed brick
Granite countertops
Stainless steel appliances
Turnkey Asset
Recent roof sealing, fully renovated units
Little to no upcoming maintenance required
Lee & Associates NYC is pleased present for sale, the student-housing asset at 41 Chenango Street in Binghamton, New York. Redeveloped in 2019, the building measures over 37,000 square feet and is positioned near the core of Downtown Binghamton.
Servicing the off-campus student population of SUNY Binghamton, the building delivers 79 beds across 20 units, 4,716 square feet of commercial space, and 5,994 square feet of common amenity space. The property offers tenants a discount to top-of- market rents, while providing a high-quality living experience that the wider market fails to deliver. The recent amenity upgrades include fitness space, a student lounge, private study rooms, as well as rare on-site parking. Additionally, the diverse unit-mix attracts both groups and individuals, widening the potential tenant base during each leasing cycle.
Investors have an opportunity to operate a quality asset at an attractive basis, capitalize on upside in commercial leasing, and benefit from positive rent growth in the near-term.
Unmated leasing velocity - excess demand
100% occupied for 2024-2025
97% Pre-Leased
Projected 100% occupancy for upcoming school year
Value-add opportunity
Upgrade amenities that exist to boost potential residential rent
Conversion and outsourcing of excess amenity space (potential fitness-use)
Successfully passed back electric to 10 units for the current school year
Opportunity to pass back electric to the remaining units, reducing expenses by an additional $27k
Competitive advantage in the market
High ceilings
Solid wood flooring
Exposed brick
Granite countertops
Stainless steel appliances
Turnkey Asset
Recent roof sealing, fully renovated units
Little to no upcoming maintenance required
Faits sur la propriété Sous contrat
| Type de vente | Investissement | Taille du lot | 0,43 AC |
| Nombre d’unités | 22 | Taille du bâtiment | 43 820 pi² |
| Type de propriété | Immeuble residentiel | Nombre d’étages | 3 |
| Sous-type de propriété | Appartement | Année de construction | 1985 |
| Style d’appartement | De faible hauteur | Ratio de stationnement | 0,27/1 000 pi² |
| Classe d’immeuble | B |
| Type de vente | Investissement |
| Nombre d’unités | 22 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | B |
| Taille du lot | 0,43 AC |
| Taille du bâtiment | 43 820 pi² |
| Nombre d’étages | 3 |
| Année de construction | 1985 |
| Ratio de stationnement | 0,27/1 000 pi² |
Commodités
Commodités du site
- Centre de conditionnement physique
- Salles de conférence
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 3+2 | 15 | - | 800 |
| 4+2 | 4 | - | 1 300 |
| 5+3 | 1 | - | - |
| 6+3 | 1 | - | - |
| 7+3 | 1 | - | - |
1 1
Walk Score®
Très pratique à pied (88)
Bike Score®
Très cyclable (71)
Impôts fonciers
| Numéro de lot | 030200-160-041-0001-010-000-0000 | Évaluation des bâtiments | 1 305 854 $ CAD |
| Évaluation du terrain | 239 455 $ CAD | Évaluation totale | 1 545 309 $ CAD |
Impôts fonciers
Numéro de lot
030200-160-041-0001-010-000-0000
Évaluation du terrain
239 455 $ CAD
Évaluation des bâtiments
1 305 854 $ CAD
Évaluation totale
1 545 309 $ CAD
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Présenté par
Gather @ Chenango | 41 Chenango St
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