49 - 51 Park Ave

Investment Overview

Offered for sale is a well-maintained 11-unit multifamily investment located at 49 - 51 Park Avenue on Binghamton’s South Side. The property consists of two buildings with a total of eleven units, including five units at 49 Park Avenue and six units at 51 Park Avenue, with a unit mix of nine two-bedroom apartments and two one-bedroom apartments. The asset benefits from strong in-place occupancy and professional management, providing immediate cash flow and stable operations. Its location within walking distance of UHS and approximately a half-mile from Downtown Binghamton supports consistent tenant demand driven by access to employment, healthcare, and amenities. Current rents are below Broome County Fair Market Rent, creating a clear path for income growth through lease turnover. With a proven operating history, reliable occupancy, and measurable upside, the property offers a balanced investment profile suited for both yield and long-term appreciation. This is a straightforward opportunity to acquire a performing asset with built-in growth potential. Financial information is based on pro forma rents.

Investment Highlights

• 11 total units across two buildings at 49 & 51 Park Avenue
• Strong in-place occupancy with immediate cash flow
• Unit mix of nine 2-bedroom and two 1-bedroom apartments
• Professionally managed with consistent operating history
• Walkable to UHS Binghamton General Hospital and approximately 0.5 miles to Downtown Binghamton
• Below market rents with clear opportunity for rental growth