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33959725
33959724

59 Grand Ave, Johnson City, NY 13790 For Sale

SW
NY 10301220936
SVN Innovative Commercial Advisors
Listed by SVN Innovative Commercial Advisors
$625,000
19 days on market
Updated 19 days ago

59 Grand Ave.

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,370
Units 8
Cap Rate 8.07%
NOI $50,419
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 9.28%
Pro-Forma NOI $58,021
Price per SqFt $116
Class B
Year Built 1970
Year Renovated 2024
Buildings 1
Lot Size (SqFt) 8,839
Zoning UMF
Parking Spaces 8 spaces
Parking per 1,000 SqFt 1.49
Investment Type Stabilized

Multifamily | 8.07% CAP | 8 Units

Marketing description

Excellent opportunity to acquire an 8-unit multifamily property in the heart of Johnson City's expanding healthcare and education corridor. The building consists of eight one-bedroom units and is ideally positioned within walking distance of the new UHS medical complex, Binghamton University's School of Pharmacy and Pharmaceutical Sciences, and the Decker College of Nursing and Health Sciences.

This location provides strong tenant appeal for healthcare professionals, university faculty, staff, graduate students, and other residents seeking convenient access to major employment and education anchors. The property benefits from Johnson City's continued investment and redevelopment activity, while offering investors a stable residential asset in a market supported by institutional demand drivers.

With its efficient unit mix, walkable location, and proximity to significant new development, 59 Grand Avenue represents a compelling multifamily investment opportunity with durable long-term rental demand.

Investment highlights

  • 8-unit multifamily investment opportunity in Johnson City, NY
  • Unit mix consists of eight one-bedroom apartments
  • Located in the heart of Johnson City's expanding healthcare and education corridor
  • Walking distance to the new UHS medical complex
  • Walking distance to Binghamton University's School of Pharmacy and Pharmaceutical Sciences
  • Near Binghamton University's Decker College of Nursing and Health Sciences
  • Ideally positioned for healthcare staff, university faculty, staff, graduate students, and area professionals

Listing Contacts

SW
NY 10301220936
SVN Innovative Commercial Advisors
Listed by SVN Innovative Commercial Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$50,419.00
$4,201.58/mo

Valuation Metrics

0
DSCR
8.07%
Cap Rate
8.07%
ROI

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Additional Information

Name
Scott Warren
License
10301220936
Brokerage
SVN Innovative Commercial Advisors
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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