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    Ithaca Multifamily Investment Opportunity Title is generated by Realmo AI

    101-05 Giles Street, Ithaca, NY 14850

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    Claim this Listing
    For Sale
    Under Contract
    $975,000

    MULTI_FAMILY - Other - Ithaca, NY

    Property size:
    4,839 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $201/SF
    Added:
    May 1, 2026
    Days on Market:
    41
    Last Refresh:
    Jun 10 at 8:06 pm

    Property Features for 101-05 Giles Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    10
    Bathrooms
    6
    Rooms
    Bedroom 2, Bedroom 7, Bedroom 4, Bedroom 8, Bathroom 4, Bathroom 5, Basement, Bedroom 5, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 9, Bedroom 1, Bathroom 1, Bedroom 10
    Parking features
    On Street
    Patio and Porch features
    Porch
    Interior features
    PullDownAtticStairs
    Exterior features
    PrivateYard
    Appliances
    GasWaterHeater
    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
    Electric (Heating), Forced Air, Natural Gas, Baseboard
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    3
    Number of units
    4
    Flooring type
    Varies, Tile, Carpet
    Building materials
    WoodSiding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Steven Saggese
    Steven Saggese

    Listing agent Steven Saggese License #30SA0532613

    Listing office Warren Real Estate of Ithaca Inc. (Downtown) 140 Seneca Way Suite 200, Ithaca, NY

    Listing date May 1, 2026

    MLS# R1677983 Listing URL

    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.

    HighLights

    • 4‑unit investment property with over 4,800 SF: two 4‑bedroom apartments and two 1‑bedroom apartments
    • Gross rent roll of $111,000 for the 2026–2027 season; fully leased through late summer 2027
    • Walk‑out basement with laundry and storage, plus pull‑down attic stairs
    • Split utilities: tenants pay heat, hot water, and electric
    • Heating and cooling include central air, forced air, natural gas/baseboard, and a gas water heater
    • Year built 1890 with wood siding, asphalt shingle roof, porch, and private yard

    Overview

    This well-maintained investment property is located on a quiet side street on the edge of downtown Ithaca, providing access to Cornell University, Ithaca College, and a TCAT bus line. The building spans over 4,800 square feet and features four units: two 4-bedroom apartments and two 1-bedroom apartments. The gross rent roll is $111,000 for the 2026-2027 season, and the property is fully leased through late summer 2027. One side of the building encompasses two full floors, suitable for a future owner-occupied residence. The opposite side houses three units across three levels, accessed via an oak center staircase. Residents have access to off-street parking and a full walk-out basement with laundry and storage. Utilities for heat, hot water, and electric are split and paid by the tenants. The property is located in Ithaca, NY, on a lot of 0.29 acres. The versatile layout and configuration appeal to a diverse tenant pool, making this a turn-key opportunity for investors.

    Local 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 $95.8k $19.80
    − Vacancy −$4.3k −$0.89
    EGI $91.5k $18.91
    − OpEx −$27.5k −$5.67
    NOI $64.1k $13.24
    4,839 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $915.0K
    $800.6K – $1.07M (±1% cap)
    NOI $64,050 @ 7.0% cap · market cap 6.57%
    Second Best
    Apartment 5plus
    $847.9K
    $742.0K – $989.3K (±1% cap)
    NOI $59,356 @ 7.0% cap · market cap 6.09%
    Theoretical Best
    Office A
    $1.51M
    $1.32M – $1.76M (±1% cap)
    NOI $105,699 @ 7.0% cap · market cap 10.84%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.492679
    Latitude
    42.438255

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained four-unit property near Cornell and Ithaca College.
    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: 4‑unit investment property with over 4,800 SF: two 4‑bedroom apartments and two 1‑bedroom apartments; Gross rent roll of $111,000 for the 2026–2027 season; fully leased through late summer 2027; Walk‑out basement with laundry and storage, plus pull‑down attic stairs
    (607) 280-4350
    We can help!
    Listing Contact
    Steven Saggese
    Steven Saggese
    Real Estate License ID: 30SA0532613
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