5 Maria MnrBinghamton, NY 13903

For Sale
$225,000

Four-unit apartment building, 100% occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
93
This well-maintained four-unit apartment building in Binghamton, NY, presents a compelling investment opportunity. Located at 5 Maria Manor, this 1,779 square foot property boasts 100% occupancy, generating a strong net operating income (NOI) of $22,793, representing a 10.13% cap rate. The asking price is $225,000, or $56,250 per unit. Built in 1980, the property sits on a 0.23-acre lot and offers convenient off-street parking. Its prime location offers easy access to major roadways including Vestal Ave, NYS Route 434, and the Brandywine highway interchange, placing it approximately one mile from downtown Binghamton and near Binghamton General Hospital. The property's proximity to 123 Park Ave and 7 Maria Manor presents potential for portfolio consolidation. The strong rental demand in this area, coupled with the property's proximity to local amenities such as Ross Park Zoo, dining, shopping, and entertainment options, ensures consistent tenant occupancy. Separate utilities for each unit simplify management. This fully leased quadplex is an excellent addition to any investment portfolio.

Highlights

  • Prime location near 123 Park Ave and 7 Maria Manor.
  • Adjacent to Maria Manor.
  • 100% occupancy.
  • Individual utility meters.
  • Convenient proximity to Ross Park Zoo.
  • Ample off-street parking.

Property Details for 5 Maria Mnr

Property type
Multifamily properties, Apartment buildings
Square Feet
1,779 SF
Year Built
1980
Lot Size (sq. ft)
10,019 SF
Units
4

Location Insight

City
Binghamton
County
Broome
State
New York
Latitude
42.0789346
Longitude
-75.9140321
5 Maria Mnr, Binghamton, New York

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5 Maria Mnr
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