24 Mather Street, Binghamton, NY for sale

Investment Overview

This 3-family property presents a high-impact value-add opportunity in a proven student housing market, located within the R3 zoning district allowing for this use. Configured for 18–20 bedrooms, the asset supports a scalable per-bed rental model. Projected gross income of approximately $140,000 to $156,000 annually, based on $650 per bedroom, with additional income potential from washers and dryers. The property features a strong existing layout, having historically operated as a student rental, with clear upside through higher-end renovations and finishes to drive rent growth. Ownership has begun improvements, including new, upgraded electrical/panel and brand-new tile and renovation materials are already on-site and included in the sale, reducing upfront capital. A large basement, previously used as a common area with a bar, can be restored as a shared tenant space, further enhancing appeal, retention, and overall NOI growth potential. Call today!

Investment Highlights

• Great income potential
• Poised on Binghamtons West Side
• In the heart of student rentals
• In the R3 zoning district for students
• 18 existing bedrooms
• 8 existing bathrooms