Four-Unit Apartment
For Sale
Under Contract
$975,000
101-05 Giles Street, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size4,839 SF
Lot Size0.29 Acres
Price / SF$201.49
Days on Market160
Property Features for 101-05 Giles Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bathroom 5, Bedroom 9, Bathroom 6, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3, Basement, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 8, Bathroom 2, Bedroom 10, Bedroom 6, Bathroom 1
Parking features
On Street
Patio and Porch features
Porch
Interior features
PullDownAtticStairs
Exterior features
PrivateYard
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school
South Hill
Middle school
Boynton Middle
High school
Ithaca Senior High
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Directions
Near the intersection of Hudson and Giles
Subdivision
Ithaca-City-500700
Standard status
Active Under Contract
APN
500700-069-000-0005-012-000-0000
Size
4,839 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
19375
Utilities
Heating system
Baseboard, Natural Gas, Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
off-street parking
laundry
storage
Building Details
Year built
1890
Floors in Building
3
Number of units
4
Flooring type
Carpet, Varies, Tile
Building materials
WoodSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
Steven Saggese · License #30SA0532613
(607) 280-4350
Added: May 1
Changed: Sep 16
Last Checked: Oct 7 at 12:06PM
MLS# R1677983
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.
Located at 101-05 Giles Street in Ithaca, this 4,839-square-foot residential income property contains four apartments: two four-bedroom units and two one-bedroom units. The building dates to 1890 and includes a walk-out basement with laundry and storage, a central oak staircase, a porch, a private yard, and a mix of forced-air natural gas and electric baseboard heating. Central air conditioning and public water are also in place.
The property is near downtown Ithaca with access to Cornell University, Ithaca College, and a TCAT bus line. The apartments are fully leased through late summer 2027. Heat, hot water, and electric are separately metered and paid by the tenants. The 0.29-acre parcel is served by a shingle asphalt roof and wood siding.
The property is near downtown Ithaca with access to Cornell University, Ithaca College, and a TCAT bus line. The apartments are fully leased through late summer 2027. Heat, hot water, and electric are separately metered and paid by the tenants. The 0.29-acre parcel is served by a shingle asphalt roof and wood siding.
Key Highlights
- Four apartments: two 4‑bedroom units and two 1‑bedroom units
- 4,839 square feet on a 0.29‑acre parcel
- Fully leased through late summer 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,050
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,281,000
$1.3M
Cap Rate 7%
$915,000
$915.0K
Cap Rate 9%
$711,667
$711.7K
Market Conditions
NOI Build-Up for 4,839 SF
Gross rent
$95.8K $19.80/SF
− Vacancy
−$4.3K −$0.89/SF
EGI
$91.5K $18.91/SF
− OpEx
−$27.5K −$5.67/SF
NOI
$64.1K $13.24/SF
Area
Tompkins County, NY
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,281,000
Cap Rate 7%
$915,000
Cap Rate 9%
$711,667
Alternative Uses
Best Use
Multifamily LT 5
$915.0K
$800.6K – $1.07M
NOI $64,050 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$847.9K
$742.0K – $989.3K
NOI $59,356 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,699 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,432
Businesses Nearby
Explore this area
Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased property with varied apartment layouts, tenant-paid utilities, and a walk-out basement with laundry and storage.
Where is this quadplex located?
The property is located at 101-05 Giles Street Ithaca, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four apartments: two 4‑bedroom units and two 1‑bedroom units; 4,839 square feet on a 0.29‑acre parcel; Fully leased through late summer 2027
