Listed by SVN Innovative Commercial Advisors
Unpriced
33 and 31.5 Pine St
Details
Property Type Multifamily
Sub Type Apartment Building, Low-Rise/ Garden
Square Footage 8,094
Units 2
Occupancy 100%
Year Built 1970
Lot Size (SqFt) 3,891
Investment Type Core
$452,500/unit
Marketing description
This is a rare offering in the rapidly developing stadium district. One block from Mirabito stadium. 33 Pine is 13 Beds and has a permit from the City for congruent living. All beds have been leased for 5 years starting at $450/Bed with 5% annual increases. This comes with a parking lot connected to 31.5 Pine. 31.5 Pine is a leased 4 Bedroom home. 33 Pine is all newly renovated. The tenant pays all expenses except Insurance and Taxes. The Commercial space has a new 3 year lease at $1,000/M. This investment offers a high return, ease of management and long term stability and a low vacancy. Ability to bundle in 41.5 Fayette for a package deal.
Ideally situated in the rapidly developing Binghamton Stadium district. This complex is one block from Mirabito stadium. This has a very walkable score of 79 and is walking distance to public and Student transportation.
Investment highlights
- 3 Income Sources. Main Building has 13 Beds, a 4 Bedroom Home leased to students and Commercial Space.
- 100% Leased.
- 13 Beds leased for 5 years with 5% increases.
- Tenants pay all expenses except Insurance and Taxes.
- Stable income with Growth potential.
Listing Contacts
Listed by SVN Innovative Commercial Advisors
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$80,911.00
$6,742.58/mo
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