6 Beds
4 Baths
4,056 SqFt
6 Beds
4 Baths
4,056 SqFt
Key Details
Property Type Multi-Family, Mobile Home
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,056 sqft
Price per Sqft $123
MLS Listing ID R1694420
Bedrooms 6
Full Baths 4
Construction Status Existing
HOA Y/N No
Year Built 1945
Annual Tax Amount $12,147
Lot Size 0.840 Acres
Acres 0.84
Lot Dimensions 201X219
Property Sub-Type Multi Family
Property Description
Owner-occupy the 1st-floor unit and collect $4,050/mo from the other three — at residential mortgage rates, not investment rates. Rent from the 2nd floor ($1,550), basement ($1,200), and detached bungalow ($1,300) offsets most or all of your carrying cost.
Located in the TOWN of ITHACA with valley views, this rare four-unit property offers the opportunity to build equity while generating income from day one. Featuring two separate buildings, four rental units, and a coveted South Hill location just minutes from Ithaca College.
The owner's unit is like a private home not an apartment, featuring a spacious kitchen with maple cabinetry, granite countertops, and a breakfast bar, an inviting living room centered around a classic brick fireplace, a sun-filled bonus room perfect for a home office or reading nook, and direct access to an expansive covered patio.
The property includes three units within the main house along with a detached two-story bungalow, creating four distinct income opportunities. Two tenants are secured through July 2027, providing dependable long-term income, while the first-floor unit and lower-level apartment offer immediate flexibility for an owner-occupant.
This property is being sold As-Is, eliminating negotiation friction and accelerating your path to closing. To make your transaction seamless, professional home inspections and radon tests have already been completed for both structures. The reports are available for review, allowing you to bypass the usual multi-week inspection delays and secure your financing with total clarity.
Heat, water/sewer, and trash are currently landlord-maintained on two building-level meters — a new owner may choose to separate utilities. Stop renting. Start building equity.
Location
State NY
County Tompkins
Area Ithaca-Town-503089
Rooms
Basement Full, Finished
Interior
Interior Features Sliding Glass Door(s), Natural Woodwork
Heating Electric, Gas, Zoned, Baseboard
Cooling Zoned
Flooring Carpet, Laminate, Varies, Vinyl
Fireplaces Number 1
Fireplace Yes
Appliance Electric Water Heater, Gas Water Heater
Exterior
Exterior Feature Balcony
Community Features Trails/Paths
Utilities Available Cable Available, High Speed Internet Available, Sewer Connected, Water Connected
Roof Type Shingle
Porch Balcony, Open, Porch
Building
Lot Description Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Foundation Block
Sewer Connected
Water Connected, Public
Structure Type Frame
Construction Status Existing
Schools
Elementary Schools South Hill
School District Ithaca
Others
Senior Community No
Tax ID 503089-053-000-0001-016-002-0000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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