Multi-Family Investment
410 Stewart Avenue Ithaca, NY 14850
For Sale
$1,150,000
MULTI_FAMILY - Other - Ithaca, NY
Property Size3,997 SF
Lot Size0.05 Acres
Price / SF$287.72
Days on Market205
Property Features for 410 Stewart Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 15
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bathroom 2, Bedroom 14, Bedroom 5, Bedroom 11, Bedroom 9, Basement, Bedroom 7, Bedroom 15, Bathroom 4, Bedroom 10, Bedroom 8, Bedroom 6, Bedroom 3, Bedroom 12, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 13
- Interior features
- NaturalWoodwork
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 63.-1-3
- Size
- 3,997 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 26564
Utilities
- Heating system
- Hot Water(Heating), Zoned, Baseboard, Natural Gas
- Cooling system
- Zoned
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 4
- Number of units
- 3
- Flooring type
- Vinyl, Varies, Laminate, Hardwood
- Building materials
- Stucco
- Roof type
- Slate, Tile
- Architectural style
- Other
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
David Wahl · License #10371201153
(607) 227-3132
Added: Dec 30, 2025
Changed: Jul 13
Last Checked: Jul 23 at 8:06PM
MLS# R1655884
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 for-sale multi-family property at 410 Stewart Avenue in Ithaca, NY offers a total of 15 bedrooms and 3 bathrooms, with 3 kitchens and 3 living rooms. The building is described as solid, featuring a tile roof. Recent or updated building systems include a new boiler and an on-demand water heater, supporting day-to-day reliability for residents.
The property is situated in Lower Collegetown and is presented as being in close proximity to Cornell University. It includes ample parking space for up to seven vehicles, which can be a practical advantage for resident move-in and everyday use.
With its three kitchen-and-living-room setups and total bedroom count, the layout may appeal to buyers looking for a multi-unit residential income configuration rather than a single-family home. The combination of established unit-style living spaces, on-site parking, and noted mechanical updates may provide a clean starting point for an operator or investor evaluating a residential income purchase in Ithaca’s Lower Collegetown area. Contact David or your buyer agent to arrange a viewing.
The property is situated in Lower Collegetown and is presented as being in close proximity to Cornell University. It includes ample parking space for up to seven vehicles, which can be a practical advantage for resident move-in and everyday use.
With its three kitchen-and-living-room setups and total bedroom count, the layout may appeal to buyers looking for a multi-unit residential income configuration rather than a single-family home. The combination of established unit-style living spaces, on-site parking, and noted mechanical updates may provide a clean starting point for an operator or investor evaluating a residential income purchase in Ithaca’s Lower Collegetown area. Contact David or your buyer agent to arrange a viewing.
Key Highlights
- Multi‑family property at 410 Stewart Avenue with 15 bedrooms, 3 bathrooms, 3 kitchens, and 3 living rooms
- Over 5,000 SF of space with ample parking for 7 vehicles
- Tile roof and stucco exterior construction
Financial Insights For Multifamily LT 5
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 | $79.1k | $19.80 |
| − Vacancy | −$3.6k | −$0.89 |
| EGI | $75.6k | $18.91 |
| − OpEx | −$22.7k | −$5.67 |
| NOI | $52.9k | $13.24 |
3,997 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$755.8K
$661.3K – $881.8K
NOI $52,905 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$700.4K
$612.9K – $817.1K
NOI $49,028 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,307 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Solid multi-family with 15 bedrooms and parking for seven vehicles, offering a straightforward income property setup.
Where is this triplex located?
The property is located at 410 Stewart Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Multi‑family property at 410 Stewart Avenue with 15 bedrooms, 3 bathrooms, 3 kitchens, and 3 living rooms; Over 5,000 SF of space with ample parking for 7 vehicles; Tile roof and stucco exterior construction
