Multi-Family Apartment
306 Stewart Avenue Ithaca, NY 14850
For Sale
$995,000
MULTI_FAMILY - Ithaca, NY
Property Size4,507 SF
Lot Size0.02 Acres
Price / SF$220.77
Days on Market14
Property Features for 306 Stewart Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Rooms
- Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Basement, Bedroom 5
- Parking features
- Garage, Driveway
- Patio and Porch features
- Patio, Porch
- Exterior features
- Patio
- Appliances
- GasCooktop, GasOven, GasRange, GasWaterHeater, Refrigerator
- Standard status
- Active
- APN
- 500700-063-000-0010-004-000-0000
- Size
- 4,507 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 20925
Utilities
- Heating system
- Baseboard, Natural Gas, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 5
- Flooring type
- Tile, Hardwood, Varies, Laminate
- Building materials
- AtticCrawlHatchwaysInsulated, VinylSiding
- Roof type
- Shingle, Asphalt
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
David Wahl · License #10371201153
(607) 227-3132
Added: Jul 10
Changed: Jul 13
Last Checked: Jul 23 at 9:06PM
MLS# R1697735
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.
Multi-family apartment building offering approximately 4,500 square feet and configured with 14 bedrooms and 5 bathrooms. The property includes multiple kitchens and durable flooring, along with generous shared spaces designed for comfortable everyday living.
Located at 306 Stewart Avenue in Ithaca, New York, this income-oriented building is positioned for investors seeking a larger unit mix within a compact lot setting.
Located at 306 Stewart Avenue in Ithaca, New York, this income-oriented building is positioned for investors seeking a larger unit mix within a compact lot setting.
Key Highlights
- Multi‑family home with nearly 4,000 sq ft of living space
- 14 bedrooms and 5 bathrooms—designed for multiple tenant living needs
- Multiple kitchens with gas cooking appliances including gas cooktop, gas oven, and gas range
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 | $104.9k | $23.28 |
| − Vacancy | −$4.4k | −$0.98 |
| EGI | $100.5k | $22.30 |
| − OpEx | −$45.2k | −$10.04 |
| NOI | $55.3k | $12.27 |
4,507 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$789.8K
$691.1K – $921.4K
NOI $55,284 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,447 @ 7.0% cap · market cap 9.89%
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 - Apartment-style multi-family property with 14 bedrooms and 5 bathrooms and multiple kitchens.
Where is this apartment building located?
The property is located at 306 Stewart Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Multi‑family home with nearly 4,000 sq ft of living space; 14 bedrooms and 5 bathrooms—designed for multiple tenant living needs; Multiple kitchens with gas cooking appliances including gas cooktop, gas oven, and gas range
