159 Washington Street, 33 | BINGHAMTON
Located at 159 Washington Street in downtown Binghamton, this historically preserved 27-unit building is a prime investment. Featuring high-end one- and two-bedroom units, most with in-unit laundry, the property maintains a tenant waitlist. It includes 14 coveted parking spots and offers strong upside potential with currently undervalued rents. The ground floor hosts a popular vintage clothing store, with additional rental income from the basement and a leaseback on the first floor. Marketed at a 7.5% cap rate, the property benefits from a PILOT program, with taxes at $25,000, stepping up to $45,000 over eight years. The combination of modern finishes, historic charm, and prime location makes this a standout opportunity. With continued demand for quality downtown housing and retail, new ownership has the potential to capitalize on rising rents and long-term value appreciation. A turn-key investment in one of Binghamton’s most sought-after areas. GBAR MLS #330413
Directions to property: Get in your car, close the door, turn the key (make sure you have gas (or you are charged up; its 2025 after all)). Note the position of the sun and time of day, with that in mind, head to downtown binghamton, drive down court st, when you get to Washington start looking for parking, ramps are available on Water and Washington if you are one of them "they don't have any parking in downtown" people... (It's a city, not a walmart!) once you are parked walk in to the metro center plaza on washington, not inside the metro center, if you go in there you have gone to far. you want to look for the numbers on the building that say 159, that the one! see you there!
