61 Thorp St - Apartments FOR SALE


Binghamton, NY 13905- Westside Binghamton
$575,000 USD
607-760-5000
61 Thorp St, Binghamton, NY for Sale
$575,000 USD
Apartments - FOR SALE
1/12
null | 10.95% Cap Rate

61 Thorp St
Binghamton, NY 13905
Westside Binghamton


HIGHLIGHTS

  • Fully renovated
  • Approved for congregate living
  • Approved by HUD at 1400/Unit

OVERVIEW

This exceptional six-unit apartment building has had an impressive makeover complete with remodeled kitchens and baths, luxury vinyl flooring throughout, new carpets in all bedrooms, and new windows for years of value. Six new refrigerators will be added to the kitchens, and six new gas water heaters have hot water at the ready for everyone. Three apartments are heated by gas, and three by electric baseboards, and new heating systems are cost-friendly to occupants. During kinder seasons, tenants can enjoy the covered porches facing the large backyard. Excellent cap rate of 11% on pro forma based on market rents of $1300, yet HUD has approved rents of up to $1400.00. Located in an area approved for congregate living.

FOR SALE DETAILS

PRICE

$575,000 USD

PRICE/SF

$27 USD /SF

# OF UNITS

6

PRICE/UNIT

$95,833

CAP RATE

10.95%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

61 Thorp Street

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

Residential Multi Unit

APN/PARCEL ID

030200-160-022-0003-005-000-0000

ASK ABOUT THIS PROPERTY

John FarrellExit Realty Homeward BoundMore Info
607-760-5000

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John FarrellExit Realty Homeward BoundMore Info
607-760-5000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.