Architectural Apartments Near
119 Stewart Avenue Ithaca, NY 14850
For Sale
$1,100,000
MULTI_FAMILY - Ithaca, NY
Property Size3,851 SF
Lot Size0.11 Acres
Price / SF$285.64
Days on Market79
Property Features for 119 Stewart Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Rooms
- Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 1
- Parking features
- Garage
- Patio and Porch features
- Deck, Porch
- Interior features
- CeilingFans
- Exterior features
- ConcreteDriveway, Deck
- Appliances
- Dishwasher, GasOven, GasRange, GasWaterHeater, Refrigerator
- Standard status
- Active
- APN
- 500700-068-000-0002-001-000-0000
- Size
- 3,851 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 26650
Utilities
- Heating system
- Other (Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1975
- Floors in Building
- 3
- Number of units
- 5
- Flooring type
- Hardwood, Varies
- Building materials
- WoodSiding
- Roof type
- Asphalt
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Kathleen M Markowski · License #30MA0818780
(607) 342-0778
Added: May 7
Changed: Jul 14
Last Checked: Jul 24 at 12:06AM
MLS# R1679449
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property in Ithaca, New York, features five units. The apartments offer architectural design and spacious layouts. The property contains 10 bedrooms and 6 baths, including one 4-bedroom unit, two 2-bedroom units, and two 1-bedroom units. Architectural details include hardwood floors, high ceilings, and large windows that provide natural light. The building has a total area of 3851 square feet and is situated on a 0.1056-acre lot. On-site amenities include laundry facilities and off-street parking. A bus stop is located at the door. The property is located within walking distance of Cornell University and downtown Ithaca.
Key Highlights
- 5‑unit property built in 1975
- 10 bedrooms and 6 baths across one 4‑bedroom unit, two 2‑bedroom units, and two 1‑bedroom units
- Hardwood flooring and high ceilings
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.7k | $23.28 |
| − Vacancy | −$3.8k | −$0.98 |
| EGI | $85.9k | $22.30 |
| − OpEx | −$38.6k | −$10.04 |
| NOI | $47.2k | $12.27 |
3,851 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$674.8K
$590.5K – $787.3K
NOI $47,237 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,118 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five units near Cornell University with architectural appeal.
Where is this apartment building located?
The property is located at 119 Stewart Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5‑unit property built in 1975; 10 bedrooms and 6 baths across one 4‑bedroom unit, two 2‑bedroom units, and two 1‑bedroom units; Hardwood flooring and high ceilings
