111 Oak Street

Investment Overview

111 Oak Street is a fully renovated 12-unit brick multifamily property comprising six 1-bedroom and six 2-bedroom apartments, totaling 18 beds across approximately 8,640 SF. The property has undergone substantial improvements throughout, including renovated apartment interiors, a complete remodel of the building's right wing, replacement of main basement beams and installation of a new rear fire escape. Renovations are expected to be completed by the seller prior to closing, providing the incoming owner with a substantially turnkey asset and limited immediate capital requirements. With only one unit currently occupied, the property provides a new owner with significant control over initial lease-up, tenant selection and rental positioning. The unit mix supports both student and traditional multifamily demand, while the property's R-3 multifamily zoning provides additional residential flexibility subject to applicable City approvals and occupancy requirements. Based on the current pro forma, the property projects NOI of approximately $83,834 at stabilization, providing a clear path from lease-up to stabilized income generation.

Investment Highlights

• 12 Units | 18 Beds: Six 1-bedroom and six 2-bedroom apartments
• Fully Renovated: Extensive improvements completed throughout the property
• Lease-Up Control: Only one unit currently occupied, allowing strategic repositioning at current market rents
• Turnkey at Closing: Seller to complete remaining renovations prior to closing
• R-3 Multifamily Zoning: Located within the City's higher-density residential zoning district Binghamton City Government
• Walkable West Side Location: Just off Main Street with convenient access to Downtown, transit, dining and daily amenities