Courtesy: Pyramid Brokerage Company - Co
607-277-2327
Premier Investment Opportunity in the Heart of Ithaca's Collegetown, Short walk from Cornell University Campus. An exceptional asset that offers a rare opportunity to own an investment property in one of the region's most dynamic and highly sought-after student-housing markets. Offering consists of 20 spacious residential units (58-bedrooms) plus a 44-car Parking Garage. Fully sprinklered. Fire, heat & smoke detection system in place. All units furnished plus have dishwashers. Common coin operated laundry. Financials provided upon signing of NDA. Proof of funds required before showing of property. Text / Call / E-mail for full details on offering.
Courtesy: Warren Real Estate of Ithaca Inc. (Downtown)
607-257-0666
Handsome downtown City of Ithaca investment property offering seven fully leased apartments with leases in place into 2027, providing an established income stream in a highly convenient location near parks, schools, shopping, dining, the TCAT bus line and city center. This well-maintained 19th-century building was once the home of a prominent Ithacan with deep ties to the community and retains an appealing blend of historic character and functionality. Rich woodwork, ornate detailing, stained glass, built-ins, a marble fireplace, high ceilings, hardwood floors and a distinctive Victorian-style staircase add character to select units and common areas while creating the appeal of a classic Ithaca apartment building. The seven-unit mix includes three studios, three one-bedroom apartments and one two-bedroom apartment, offering a diverse tenant mix with smaller units that can provide attractive rent-per-square-foot potential and access to a broad rental pool. Most tenants are established, contributing to stable occupancy and a solid rental history, with current gross rents totaling $92,760 annually. Units have been selectively updated over time as they became available, creating an opportunity for a new owner to continue improvements and capture potential future rental growth. A full walk-up attic provides valuable storage, while the full walkout basement offers additional utility and storage space. Off-street parking for multiple vehicles is an added benefit in this downtown setting. A well-cared-for investment property combining established rental income, a desirable unit mix, strong location and opportunities for continued value enhancement.
Courtesy: Howard Hanna S Tier Inc
607-257-0800
Welcome to 502 North Tioga Street, a stately seven-unit Victorian with a commanding corner presence in the heart of downtown Ithaca. Built in 1907, this distinctive property brings together enduring architectural beauty, strong rental performance and an exceptional location within walking distance of the Ithaca Commons, Cornell University, restaurants, shops and neighborhood conveniences. A gracious wraparound porch sets the tone, framed by mature landscaping and the home's signature Victorian rooflines and bay windows. Inside, original craftsmanship takes center stage. Rich hardwood floors, intricate millwork, stained-glass accents, substantial moldings, beautifully detailed staircases and classic fireplace surrounds speak to the character of an earlier era, while tall windows bring warmth and brightness throughout the interiors. The property includes one two-bedroom apartment and six one-bedroom apartments, each with its own character and layout. An especially impressive main-level apartment stands apart with its generous proportions, elegant woodwork and inviting living spaces. It offers the future possibility of a beautiful owner's residence, while the six additional apartments provide income to help offset the cost of ownership. Fully leased with strong rental income, the property also benefits from two newer hot-water boilers, updated electrical service, multiple electric meters, coin-operated laundry and off-street parking. Whether maintained as a fully leased investment or considered for future owner occupancy, 502 North Tioga Street presents a rare opportunity to own an architecturally distinctive income property in one of Ithaca's most walkable and desirable downtown locations.
Courtesy: Linz Real Estate
607-227-7456
Tudor Revival inspired five unit investment property in the Village of Cayuga Heights with an exceptional $108,900 in gross annual income, an approximate 9.6% cap rate and competitive pricing at about 7.2 times gross income. Fully rented through July 31, 2027, the property features charming front gables, a stunning stone chimney, arched entry, stucco exterior and wood siding, with the architectural shingle roof installed by J.D. Ferro in 2014. Spacious interiors offer abundant natural light, hardwood and vinyl plank flooring, classic radiators, period details and a wood burning fireplace. Three of the five kitchens feature expansive picture windows overlooking mature trees, creating a tree canopy backdrop for dining, while oversized windows in first floor bedrooms and numerous living spaces enhance brightness and openness. Spacious rooms and a mix of floor plans add to the property’s period character, with the third floor apartment updated in 2021. Recent improvements include a boiler installed by Donahue-Halverson in 2022 and freshly painted exterior wood siding completed in 2026. A spacious driveway provides convenient off street parking for tenants. Located approximately one mile from Helen Newman Hall on Cornell University’s North Campus, near a TCAT bus stop, with convenient access to the Arts Quad and West Campus. Tenant responsibilities include individual electric and internet service. 1961 floor plans on file with the Village are provided for historical reference, and the required multi-unit fire and safety inspection was satisfactorily completed in 2026 while the property was fully occupied in its current configuration. Coin operated laundry generates approximately $800 in additional annual income beyond the stated gross income. Income performance, supplemental laundry revenue, recent improvements and a Cayuga Heights setting create an excellent income producing opportunity.
Courtesy: Berkshire Hathaway HomeServices Heritage Realty
607-428-0708
Well-located 10-unit apartment building with each unit being 2 bedroom 1.5 baths each in Ithaca’s desirable Northeast neighborhood, situated on a quiet residential street convenient to Cornell University, shopping, dining, healthcare, BOCES, and nearby schools. This distinctive brick building offers spacious apartments with bright interiors and comfortable living spaces. Building amenities include air conditioning, coin-operated laundry facilities, dedicated storage for each unit, and free off-street parking—valuable conveniences for residents in the Ithaca rental market. Multiple TCAT bus routes are just a short walk away, providing direct service to Cornell, Downtown Ithaca, Ithaca Mall, and other area destinations, with additional transit options available along nearby Triphammer Road. Combining a sought-after Northeast location, established residential setting, on-site parking, storage, and convenient access to major employment, education, shopping, and transportation, this 10-unit property presents an attractive opportunity for an investor seeking a substantial multifamily asset just outside the City of Ithaca with an Ithaca address. This unique property attracts long-term tenants. Delayed showings in effect - No showings until Wednesday, September 3 at 1:00 pm.
Courtesy: Berkshire Hathaway HomeServices Heritage Realty
607-428-0708
Just off State Street, a few blocks south of Collegetown Center and just up the hill from the Commons, this large 24-bedroom building is nestled along the gorges and preserves. It’s just above the Six Mile Creek Preserve, and the footbridge over the creek is just a few hundred feet down the street. Out the back windows, it’s all beautiful greenery and shade. A large duplex building, it is divided into a number of apartments. Sitting just below a large, new, upscale complex, this charming location offers apartments with bay windows in many units and large rooms uncommon in today’s cookie-cutter new housing. Additional features include a security system and sprinkler system. The pricing is appealing to students while leaving plenty of room for increased income through improvements. Come look it over and see how this property would fit into your portfolio. Apartment room distribution: 116-1: 5 bedrooms, 2 baths; 116-2: 3 bedrooms, 1 bath; 116-3: 2 bedroom, 1 bath; 118-1: 6 bedrooms, 1 bath; 118-2: 4 bedrooms, 1 bath; 118-3: 3 bedrooms, 1 bath.
Courtesy: Howard Hanna S Tier Inc
607-257-0800
Ivy League Collegetown property is highly regarded as some of the most stable, investment grade real estate in the country. Located in the heart of Cornell University’s Collegetown- This property features 10 bedrooms and can be rented in a variety of ways. Currently rented by the room, this property is prime for value add. Flexible CR-3 zoning allows for ground up redevelopment of up to 3 stories or implement a value add strategy to boost per bedroom rents to market rate. Fully renovated properties in the area can fetch $1100-$1400 per bedroom. Properties of this size, this close to Cornell in a prime Collegetown location rarely hit the open market.
Courtesy: Howard Hanna S Tier Inc
607-257-0800
Positioned within walking distance to the vibrant center of Cornell University’s Collegetown, this fully leased 8-bedroom rental property offers a rare investment opportunity with remarkable income potential. With proximity to one of the nation’s most prestigious institutions, the property is ideally situated to attract consistent demand from students and faculty alike. Currently generating steady rental income and fully occupied through the 2025 school year, this property delivers immediate cash flow. But it doesn’t stop there—the potential for value-add improvements makes this a prime opportunity for savvy investors to increase returns. Adjacent property at 129 Linden Ave is also for sale. Both properties benefit from flexible CR3 zoning allowing for 3 stories of construction for future redevelopment.
Courtesy: Howard Hanna S Tier Inc
607-257-0800
Discover a rare opportunity to own a fully-leased, income-generating 8-bedroom rental home located just steps away from the heart of Cornell University's vibrant Collegetown in Ithaca, NY. This prime investment property is perfectly positioned to capitalize on the strong demand for student housing, offering consistent cash flow and significant upside potential through strategic value-add enhancements. Adjacent property at 133 Linden Ave is also for sale. Both properties benefit from flexible CR3 zoning allowing for 3 stories of construction for future redevelopment.
Courtesy: Howard Hanna S Tier Inc
607-257-0800
Offered for the first time in nearly half a century, this exceptionally well-maintained multifamily portfolio has been in the same family for 49 years. The property includes a total of 19 fully rented apartment units, each with dedicated parking. Located in the heart of Ithaca - close to public transportation, shopping, restaurants, Ithaca College, and Cornell University. This is an unbeatable investment in one of the most sought -after rental markets in the area. Addresses included: 204, 206, 208, & 210 W Spencer Street, Package Price of 2.1M. Long - term care, numerous updates, a prime location, and strong rental history make this a rare opportunity you won't want to miss.
Courtesy: Howard Hanna S Tier Inc
607-257-0800
The exterior siding is newly painted. Located in the heart of College Town, this charming 6-unit apartment building offers a unique blend of historic character and modern convenience. Just a short walk from Cornell University, and Downtown Ithaca. It is nestled within a well-preserved historic district, and this property offers 6 parking spaces. Call to schedule a showing tour!
Renovated, Affordable, Close to Downtown, Cornell, Ithaca College, AND income producing. The 3 bedroom 1 bath house is tucked away from the road with a fenced yard in front and back. It is freshly painted inside and out, has many new floors, an updated kitchen and appliances. The 1 bedroom 1 bath carriage house is located above the 2 car garage and can defray the cost of taxes and mortgage payments. Open house Sunday, December 3rd from 1-2:30.
Excellent turn-key investment opportunity in the heart of Collegetown and close to everything at Cornell University. 5 units with 14 bedrooms, 5 kitchens, and 5 living rooms total. Each unit is updated, clean, furnished, and well maintained. 3 stories with an apartment on each floor and 2 basement apartments. Whole house has been well cared for. Excellent rental history and rented through the academic year.
Looking for a prime Collegetown investment and an easy rental? Three story, 5 bedroom house legal for 5 unrelated persons. Just a few steps from Cornell University and The Collegetown Business District. Spacious rooms, lots of natural light. Leased for 12 months until 6/5/2024 for a total rent of $58,800, and already leased for 24-25 at a total rent of $65,400. New ending lease date is June 5, 2025. The house is furnished and has a washer and dryer. Domestic sprinkler allows use of third floor. Many recent improvements. Main floor has living room, kitchen, two bedrooms. Second floor has three more bedrooms and two full baths. Third floor is finished off as legal lounge space.
If you're looking for an easy-to-rent investment property, near Ithaca College and Cornell University, this is the place for you! Already fully rented - the interior has been completely renovated in 2019. There are three bedrooms per unit and 1.5 bathrooms, so each apartment can accommodate up to 3 people comfortably. Listing agent is a licensed real estate agent.
This property is located in Ithaca, New York. It is a quick drive to both Ithaca College and Cornell University. The property has been fully rented out and is currently occupied until July 2024. There are spacious bedrooms with washer/dryer in each unit. There is off-street parking available for tenants as well as a front porch area for sitting outside on nice days. This property is located in the South Hill neighborhood and is near many local amenities including restaurants, bars, grocery stores, and parks.Owner is a Licensed NYS Real Estate Salesperson.
This home is located in the South Hill neighborhood of Ithaca, NY. It's close to many local amenities and just a short drive from Ithaca College and Cornell University.The property features ample lighting, washer/dryer in each unit, off-street parking, and a two-car garage. Seller is a NYS Licensed Real Estate Salesperson.
Live locally in the heart of Ithaca, just steps to all the best local amenities. We're big on space for roommates, with two - 4 (GIGANTIC) bedroom units, each unit with 1.5 baths. There's also plenty of room for storage and each unit comes with a washer/dryer. Plus it's furnished so you don't need to worry about buying anything extra! The Commons is right around the corner and there's no shortage of things to do here in town. Great off-street parking and less than a 5-minute drive to both Ithaca College and Cornell. The owner is an NYS Lic. Real Estate Salesperson.
Well-maintained investment opportunity located on Ithaca South Hill with Ithaca College, Cornell University, and Downtown Ithaca at your fingertips. This up/down 6 bedroom 2 bath duplex (3 up 3 down) offers 6 spacious bedrooms, plenty of natural light, fully furnished, Newly paved driveway with ample off street parking, bus stop nearby, and shared washer/dryer onsite. Separate utilities which tenants are responsible for making this investment an easy transition. Owner is NYS Licensed Real Estate Salesperson
Welcome to your next opportunity at 414 Stewart Avenue, a remarkable multi-family property available for sale. This investment is situated in Lower College Town, offering an excellent location for both residents and investors. With 14 bedrooms, 4 bathrooms, 4 kitchens, and an ample parking lot for 13 vehicles, this property is perfect for those seeking a profitable venture. Spanning nearly 5000 square feet of finished living space. This property boasts proximity to Cornell University, making it an ideal choice for students, staff, and faculty members. New heating system installed 2023, new appliances in 3 out of the 4 kitchens. Contact David or your Buyer agent today for more information and to schedule a viewing!
Great opportunity to own a Collegetown investment property that has been completely and tastefully renovated. Every surface has been touched from the heating and air conditioning to the beautiful kitchens with stainless appliances, updated tiled baths, new floors, paint, lighting, and in unit washer and dryers. great ceiling height and spacious rooms. Too many upgrades to mention all. Fully rented through the 2023-24 school year.
Rare opportunity in a prime High-Density Residential area! Approx 3-acres of land located across from Ithaca College and moments away from downtown Ithaca. Available now on Danby Rd.(96b). This gem presents an enticing prospect for developers & investors alike. One of the standout features of this property is the existing income-producing potential it offers. For the past 25 years, the 5 properties have been generating steady revenue, making it a promising investment opportunity with a proven track record. All the essential infrastructure for development is on-site. House Lots are beautifully landscaped, complementing the vibrant surroundings. With the flexibility of HDR Zoning to develop condominiums, townhouses, apartment buildings, and other multiple family housing for developers.The possibilities are endless! If you're looking to expand your property portfolio or create a residential haven in this highly sought-after location, this property has the potential to fulfill your vision.
Fully Rented through 2023-2024 rental period!! Ithaca investment opportunity!! Located 2 blocks from downtown Ithaca, quick commute to Ithaca College and Cornell University. This 3-Unit property has outstanding rental history. From the 9-11' high ceilings, w/ charming hardwood flooring throughout, bright natural lighting, generous living spaces, and the front porches to unwind on, these two units have no issues renting. Units 1 and 2 can also be rented as a 5/6 unit with the joining staircase. Basement apartment has unique architectural charms that oozes coziness, from the luxurious in-floor heating to the Herringbone style tiles to the exposed brick, and its covered patio makes this studio very easy to rent. All units are on separate meters. Tenants are responsible for gas/electric, trash, and recycling. Seasonal off street parking behind the house with a one car covered space bring in additional income.
Just reduced!! 13 br Collegetown 4 unit, with one apt on each of four levels. Located in the EH Historic District, which governs only the exterior of the building. Two 4 br apts, one 3br, and one 2br unit. 3 br and 2nd flr 4 br apts leased at $750 per br, furnished and including utils. Still signing leases for the 3rd flr 4-br unit, at the same rent and terms. The 2 br unit facing Seneca St. is leased unfurnished for 11 mos at $1245 per mo through 7.31.24. Off-street parking space leased for $80 per month for fall term. When fully leased, proj. rent for 23.24 is $96,995, includ. parking and on 10 month leases. New C of C in process. Deed, survey, current leases, expired C of C, railing height variance and encroachment agreement uploaded to docs. 10 year old tear off roof.
Ithaca is located in New York. Ithaca, New York has a population of 31,819. Ithaca is more family-centric than the surrounding county with 30.72% of the households containing married families with children. The county average for households married with children is 26.46%.
The median household income in Ithaca, New York is $40,973. The median household income for the surrounding county is $64,260 compared to the national median of $69,021. The median age of people living in Ithaca is 22.3 years.
The average high temperature in July is 80.9 degrees, with an average low temperature in January of 14.7 degrees. The average rainfall is approximately 37.4 inches per year, with 63.3 inches of snow per year.
