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    371 Applegate Rd Ithaca, NY 14850

    Sponsored
    For Sale
    $479,000

    Five-unit property, high cash flow, prime location.

    Property size:
    4,800 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents a five-unit multifamily property ideally situated near both Ithaca and Trumansburg, New York. The property boasts a substantial 4,800 square feet of living space distributed across four spacious townhouse-style apartments and one studio apartment. This configuration offers a diverse rental mix, appealing to a broad range of tenants and maximizing rental income potential. The generous 4.76-acre lot provides ample space for future expansion or development, presenting significant upside for a savvy investor. The current cash flow makes this an attractive addition to any existing portfolio or a solid foundation for a new one. The property's location offers convenient access to the amenities and attractions of both Ithaca and Trumansburg, enhancing its appeal to potential renters. This is a rare chance to acquire a well-maintained, income-producing property in a desirable location with significant growth potential. The asking price of $479,000 represents a compelling investment opportunity in a thriving market. Serious inquiries are encouraged to explore this promising venture further. Detailed financial statements and property information are available upon request.

    Property Features for 371 Applegate Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,800 SF
    Lot Size
    207,346 SF

    Building Details

    Year Built
    1990
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Spa & Massage Hair Salon Auto Repair Shop Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.61247
    Latitude
    42.47827

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    FAQs

    What type of property is this?
    Commercial real estate - Five-unit property, high cash flow, prime location.
    Where is this commercial real estate located?
    The property is located at 371 Applegate Rd Ithaca, NY.
    What is the asking price?
    The asking price for this property is $479,000.
    (607) 428-0708
    Request Owner's contact information
    371 Applegate Rd Ithaca, NY 14850
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    Ithaca, NY 14850
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    371 Applegate Rd Ithaca, NY 14850
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