90 Henry St

Located in the heart of downtown Binghamton, 90 Henry Street sits within a dynamic, walkable corridor surrounded by a mix of residential, student housing, and commercial uses. The property is positioned near the Stadium District and downtown core, offering convenient access to restaurants, coffee shops, entertainment venues, and professional services. It benefits from strong proximity to Binghamton University amenities, public transportation, and major arterial roads, making it easily accessible for residents, tenants, or patrons. The surrounding area has seen continued reinvestment and redevelopment, contributing to a growing demand for housing and mixed-use opportunities and making this location well-suited for residential, commercial, or redevelopment potential.This well-maintained 26-unit studio apartment building offers a strong investment opportunity in the evolving Stadium District of Binghamton, an area targeted by the city as one of the redevelopment corridors. The property is currently 92% occupied with only two vacancies and active rental applications being processed, demonstrating consistent tenant demand and stable in-place income. Ideally positioned within walking distance to SUNY bus lines and the Downtown Binghamton bus terminal, the property is highly attractive to Binghamton University students, young professionals, and downtown workforce tenants seeking convenience and walkability. The surrounding area features restaurants, retail, banking, and entertainment venues, further enhancing long-term rental demand. The building is secure, professionally maintained, and operationally efficient, featuring a central boiler system that simplifies management and reduces maintenance complexity. The property is commercially zoned, offering additional flexibility and long-term redevelopment potential in a high-growth urban location. Current financials are based on actual income and expenses and support an approximate 9% cap rate at the asking price. With stabilization to full occupancy, the projected cap rate increases to approximately 11%. Priced at roughly $59,000 per unit, this asset represents an attractive value-add opportunity with strong cash flow, operational simplicity, and long-term appreciation potential in a proven rental market experiencing continued reinvestment and growth.