512 University Avenue Ithaca City, NY 14850
Fantastic real estate investment opportunity beside Cornell's west campus. Route 10 bus line across the street servicing many campus locations and downtown. Future student center planned nearby creating future demand hub. Income for 24/25 leasing period is $70800. Property fully rented since October 2023 for 24/25. Expenses for calendar year 2023 were $29958. Assessed property value for 2025 to drop significantly with positive effect to taxes paid. Turnkey rental property with aesthetic improvements needed at buyers discretion. 3 electric meters and 2 gas meters. 1 electric meter services mec room light and radon fan. 2 boilers and 2 hot water heaters. 1 water meter. Furniture carries with property. Hardwood floors throughout.
- Property TypeMulti-Family
- NeighborhoodSection 341
- CountyTompkins
- Taxes$22,325
- HOA/Condo/Coop Fees$0
- Days on Site24 Days
- MLS StatusActive
- MLS ID NumberR1540647
- Home Size Source Public Records
- Year Built1900
- Lot Size0.1398 Acres
- Full Baths3
- Partial BathsN/A
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General Features
- Style Duplex
- Construction Wood Siding
- Parking On Street
- Basement PartialWalk Out Access
- Number of Stories 2
- Acreage 0.1398
- Water Public
- Security Radon Mitigation System
- Property Sub Type Duplex
- Garage Spaces 0
- Utilities Sewer ConnectedWater Connected
- Foundation Stone
- Listing Conditions Standard
Interior Features
- Heating GasBaseboard
- Appliances Gas Water Heater
- Flooring HardwoodMarbleVaries
- Furnished? Furnished
- Interior Attic
- Fireplaces 0
- Laundry Features Washer Hookup
- Fireplace No
Exterior Features
- Roof Asphalt
- Waterfront Property No
- Lot Near Public TransitRectangular
- Road Frontage City Street
Community Features
- Township Not Applicable
- Senior Community No
- MLS Area Ithaca-City-500700
- Security Features Radon Mitigation System