Investment Property for Sale at 61 Thorp Street in Binghamton, New York for $505,000

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61 Thorp Street | BINGHAMTON

$505,000 | 18 Beds (6 Full) | 4,386 Sq. Ft.

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. GBAR MLS #329735

Directions to property: Take Main Street toward Johnson City, then turn right on Jarvis, then right on Thorp.

Contact Information

To inquire about this property, please contact your REALTOR® directly if you are already working with one, or use the contact information provided below to contact the listing agent or brokerage directly. GBAR staff is unable to provide real estate listing information. Please contact one of our REALTOR® members if you need more information about this or any other listing.
Listing Agent Name: 
John J. Farrell
Listing Agent Phone: 
607-760-5000
Listing Agent Email: 
john [at] exitnys [dot] com (send a message)
Listing Office Name: 
EXIT REALTY HOMEWARD BOUND
Listing Office Phone: 
607-729-5500