UNBEATABLE 12.3% PRO-FORMA CAP RATE: 7-Unit Building + 8th Unit Value-Add Upside

Description:
Priced at $699,990 for immediate sale, 86 Oak St is a high-yield asset in Binghamton’s premier student housing hub. Located on major bus lines near downtown, this location ensures high demand, bolstered by 51’ frontage and rare off-street parking—a major competitive advantage in this neighborhood.

Investment Highlights:

Pro-Forma 12.3% Cap Rate: Based on optimized operations and a Pro-Forma NOI of $85,997.

7 Units + 1 Bonus: Currently 7 functional units with a 1-bed basement unit awaiting renovation. Pro-forma financials include the projected income from this 8th unit.

Legal R-3 Zoning: The "gold standard" for student housing compliance in Broome County.

Financials (Pro-Forma):

Net Operating Income (NOI): $85,997

Property is being sold as-is. This is a rare "math-house" play for an investor looking to anchor their portfolio in the Westside’s premier rental corridor.