161 Court St, Binghamton, NY for sale

Investment Overview

Completely renovated mixed-use investment opportunity in Binghamton’s sought-after downtown student housing market, offering an actual 9% cap rate, low operating expenses, and easy management. 161 Court Street features six apartments with a mix of two- and three-bedroom layouts totaling 15 beds, all fully leased to students, with leases currently being signed for the next academic year. Electric is separately metered, with the landlord covering the first $60 per apartment per month and tenants responsible for any charges above that cap. A common student lounge on the first floor adds to the building’s appeal. The property also includes a vacant commercial space actively being marketed, with interested prospective tenants, offering potential for additional rental income. Positioned at the corner of Court and Carroll Streets, the building benefits from bus-line access and walking distance to downtown restaurants, shops, and entertainment.

Investment Highlights

• Actual 9% Cap Rate: Fully leased student apartments with low operating expenses and an easy-to-manage setup.
• Completely Renovated: Six apartments totaling 15 beds, a common student lounge, and leases being signed for the next academic year.
• Prime Location & Income Potential: Downtown student housing corridor on the bus line, plus vacant commercial space actively being marketed to interested prospects.