About 86 Oak Street
MAJOR PRICE REDUCTION | ~17.4% PRO-FORMA CAP RATE | VALUE-ADD 7 UNIT + 8TH UNIT UPSIDE 86 Oak St Priced to sell at $599,999, this property presents a high-upside multifamily opportunity in the core student housing corridor of Binghamton. Previously offered at a higher valuation, the asset has been repositioned for immediate sale. Investment Highlights ~17.4% Pro-Forma Cap Rate Based on projected NOI of $104,397 upon full stabilization Multiple Upside Paths Even without bringing the 8th unit online, projected NOI remains approximately $92,397, offering strong returns through operational improvements and market alignment over time 7 Units + 8th Unit Value-Add Existing 7-unit configuration with additional 1-bedroom basement unit requiring full renovation prior to lease-up Strong Rental Location Positioned along major bus lines with easy access to downtown and key student demand drivers Off-Street Parking + 51’ Frontage Desirable amenity that enhances tenant appeal and retention R-3 Zoning (Multifamily Compliant) Supports current use and long-term investment stability
Features of 86 Oak Street
| MLS® # | R1666750 |
|---|---|
| Price | $599,999 |
| Bedrooms | 17 |
| Bathrooms | 0.00 |
| Square Footage | 5,778 |
| Acres | 0.12 |
| Year Built | 1970 |
| Type | Multi Family |
| Sub-Type | Other |
| Status | Active |
Community Information
| Address | 86 Oak Street |
|---|---|
| Area | Binghamton-City |
| City | Binghamton |
| County | Broome |
| State | NY |
| Zip Code | 13905 |
Amenities
| Utilities | Sewer Connected, Water Connected, Heat |
|---|---|
| Features | Near Public Transit, Rectangular, Rectangular Lot |
| Parking | Three or more Spaces, No Garage |
| Garages | Three or more Spaces, No Garage |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Other, See Remarks |
|---|---|
| Appliances | Electric Oven, Electric Range, Gas Water Heater, Refrigerator, See Remarks |
| Heating | Gas, Other, See Remarks |
| Cooling | Other, See Remarks |
| Fireplace | No |
| # of Stories | 2 |
| Stories | 2 |
| Has Basement | Yes |
| Basement | Full |
Exterior
| Exterior | Frame, Stucco |
|---|---|
| Exterior Features | See Remarks |
| Lot Description | Near Public Transit, Rectangular, Rectangular Lot |
| Roof | Flat, Other, Shingle, See Remarks |
| Construction | Frame, Stucco |
School Information
| District | Binghamton |
|---|---|
| Elementary | Horace Mann |
| Middle | West Middle |
| High | Binghamton High |
Additional Information
| Short Sale | No |
|---|---|
| RE / Bank Owned | No |
Listing Details
| Office | Owner Entry.com |
|---|---|
| Contact Info | 845-598-2950 |