Listed by SVN Innovative Commercial Advisors
$1,390,000
59 Grand Ave & 7 Tremont Ave
Details
Property Type Multifamily
Sub Type Student Housing, Apartment Building
Square Footage 11,082
Cap Rate 8.55%
NOI $119,548
Occupancy 100%
Tenancy Multi
Buildings 2
Lot Size (SqFt) 8,839
Zoning UMF
Parking Spaces spaces
Investment Type Core
Fully Occupied Multifamily Portfolio with Proven Cash Flow
Marketing description
Offered for sale is a 20-unit multifamily portfolio consisting of 59 Grand Avenue in Johnson City and 7 Tremont Avenue in Binghamton. The portfolio is comprised entirely of one-bedroom apartments and is currently fully occupied, reflecting strong occupancy history and stable tenant demand across both assets.
Both properties have benefited from substantial renovations and ongoing improvements, allowing investors to acquire stabilized multifamily assets with limited near-term capital requirements. Priced at approximately $69,950 per unit, the portfolio presents an attractive opportunity to acquire scale, dependable cash flow, and operational efficiency within two established Southern Tier rental markets.
Investment highlights
- 20 total multifamily units across two properties
- 100% one-bedroom apartment mix
- Fully occupied with strong occupancy history
- Significant renovations and property improvements completed
- Stable in-place cash flow
- Brick construction with strong curb appeal
- Located in established Johnson City and Binghamton rental corridors
- Convenient access to healthcare, Downtown Binghamton, retail, and public transportation
Listing Contacts
Listed by SVN Innovative Commercial Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$119,548.00
$9,962.33/mo
Valuation Metrics
0
DSCR
8.6%
Cap Rate
8.6%
ROI
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