40 & 42-46 Jackson Avenue

Investment Overview

40–46 Jackson Avenue offers a seven-unit multifamily portfolio across three buildings in Endicott’s growing employment corridor. The offering includes four apartments in the main building at 42–46 Jackson Avenue, two apartments in a rear building, and a separate three-bedroom, 1½-bath home at 40 Jackson Avenue. The mix of apartments and a single-family residence provides flexibility in leasing and property positioning. The investment opportunity centers on improving the buildings, addressing deferred maintenance, leasing available units and bringing rents toward market levels. The supplied pro forma projects annual gross rental income of approximately $100,400 and net operating income of approximately $47,300 after a 5% vacancy and credit-loss allowance, operating expenses and replacement reserves. These projections depend on completing necessary improvements, achieving the assumed rents and establishing consistent collections. Within walking distance of the Huron Campus and approximately 1½ blocks from Main Street, the property offers convenient access to BAE Systems, area employers, Washington Avenue retail and everyday services. Nearby Route 26, Interstate 86 and Vestal Parkway provide connections throughout Greater Binghamton. Endicott’s continued investment in advanced manufacturing and its employment base support the location’s long-term rental appeal. For an investor prepared to execute a renovation and stabilization plan, the portfolio offers an opportunity to improve operating performance and build value through stronger occupancy, market rents and coordinated management.

Investment Highlights

• Seven units across three buildings, including six apartments and a separate three-bedroom, 1½-bath home.
• Value-add opportunity through property improvements, lease-up, stronger collections and market rents.
• Projected annual gross rent of $100,392 upon stabilization.
• Projected annual NOI of approximately $47,336, including a 5% vacancy allowance and replacement reserves post stabilization.
• Walkable employment access to the Huron Campus and BAE Systems.
• Approximately 1½ blocks from Main Street, near Washington Avenue shopping, dining and services.
• Convenient regional access to Route 26, Interstate 86 and Vestal Parkway.
• Coordinated management opportunity across three neighboring buildings.
• Financial projections are subject to renovations, lease-up and achievement of assumed market rents; initial capital improvements and financing costs are excluded.it complex within walking distance of the Huron Campus and IM3 Battery Manufacturer.
• Spacious and recently renovated units
• Strong rental income potential
• Updated amenities and finishes.
• Attractive investment opportunity. Includes off-street parking.
• Federal Opportunity Zone
• Located in Endicott, NY, birthplace of IBM and Endicott Johnson Shoes, now experiencing a resurgence with: A new battery manufacturer, A solar manufacturer, A $160M research and development grant for Central NY.