$730,000

175 Chapin Street, Binghamton NY, 13905

Price per sqft$93.35

Built in1960

Property size7,820 sqft

Property typeCommercial

Overview

Active

Listed Jul 29, 2026

Updated Jul 31

Turn-key investment opportunity! Excellent 8-unit multi-family property featuring eight individual 1-bedroom apartments with a strong Net Operating Income of $65,647 after expenses. Landlord utility expenses (water, sewer, and common electric) total just $2,852/year. The building offers plenty of off-street parking behind the building for each tenant and is designed for low-friction management, featuring 9 separate electric meters (8 tenant-paid, 1 landlord meter for common spaces). Additional income stream provided by on-site coin-operated laundry facilities generating approximately $2,000/year ($500/qtr). Security-enabled building features a locked front entry with postal key access, plus a remote-viewable security camera system that transfers to the new owner. Well-maintained property with a solid rental history, established rental schedules, cooperative tenants aware of the sale, and full compatibility with local housing assistance programs. Perfect addition to any portfolio!

Additional information

MLS^® ID: R1702552

Interior Features

Bathrooms: 0
Heating: Yes
Basement: Yes

Exterior Features

Lot Size: 0.19 Acres

Other Property Details

Taxes: $11,049
Tax Frequency: Annually

Courtesy of Keller Williams Realty Southern Tier & Finger Lakes, James Connor

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Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s), Perfect Place, nor Luxury Presence shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.

Data last updated 4:34 AM UTC, 7/31/2026