Student Apartment Investment
For Sale
$2,950,000
112 Groton Ave, Cortland, NY 13045
Well-maintained 14-unit portfolio near SUNY Cortland with coin laundry and 42 on-site parking spaces.
Days on Market59
Property Features for 112 Groton Ave
General Information
Standard status
Active
Total Parking Spaces
42
Property subtype
Investment
Financials
Cap Rate
7%
Business Included
Yes
Units
Multifamily Units
14
Office Units
1
Building Details
Year Built
2009
Listing Agency:
Berkshire Hathaway HomeServices CNY Realty
(607) 423-4719
Listed By:
Dana Decker · License #10491212933
(607) 423-4719
Source:
Elliman
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 31 at 3:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices CNY Realty
Investment Insights
Based on property information with market context.
112 Groton Avenue is a professionally managed 14-unit student housing investment property configured to support three-bedroom living across multiple buildings. The centerpiece is a 10-unit structure constructed in 2009, offering ten spacious three-bedroom apartments with functional floor plans, large living rooms, eat-in kitchens with dining areas, and full bathrooms featuring double-sink vanities. Built-in closet shelving systems add storage throughout. Two additional structures were built between 2014 and 2015: a side-by-side duplex with each unit providing three bedrooms and one and a half bathrooms, and a third building containing two more three-bedroom units plus a dedicated rental office, storage space, and a garage with an overhead door suitable for maintenance equipment and property operations. The portfolio totals 42 bedrooms, with stated potential to expand to 44 bedrooms. Residents also benefit from five common laundry areas with coin-operated machines, and the property includes 42 on-site parking spaces.
The property is described as being a short distance from SUNY Cortland and the shops, restaurants, and amenities of downtown Cortland. The listing also notes walkability with a walkScore of 81 and a bikeScore of 56.
For buyers seeking an established income-producing setup, the offering is presented with a cap rate exceeding 7% and a strong rental history, alongside a turnkey operational arrangement. It may also be suitable for investors looking to complete a 1031 exchange while acquiring a fully established student housing portfolio.
The property is described as being a short distance from SUNY Cortland and the shops, restaurants, and amenities of downtown Cortland. The listing also notes walkability with a walkScore of 81 and a bikeScore of 56.
For buyers seeking an established income-producing setup, the offering is presented with a cap rate exceeding 7% and a strong rental history, alongside a turnkey operational arrangement. It may also be suitable for investors looking to complete a 1031 exchange while acquiring a fully established student housing portfolio.
Key Highlights
- Well‑maintained 14‑unit student housing portfolio near SUNY Cortland, professionally managed.
- 10‑unit building built in 2009 with ten 3‑bedroom apartments, each with full bathrooms and double‑sink vanities.
- Two additional buildings built between 2014 and 2015, including a side‑by‑side duplex and a building with two 3‑bedroom units plus rental office.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
14
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 13045, NY
28,406
Population
12,420
Households
2.3
Avg Household Size
36
Median Age
30%
College-Educated
90%
High-School Grad
107.9 sq mi
ZIP Area
263
Density / Sq Mi
$67,028
Median Household Income
$33,869
Median Earnings
$905
Median Rent
$162,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 14-unit portfolio near SUNY Cortland with coin laundry and 42 on-site parking spaces.
Where is this apartment building located?
The property is located at 112 Groton Ave Cortland, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Well‑maintained 14‑unit student housing portfolio near SUNY Cortland, professionally managed.; 10‑unit building built in 2009 with ten 3‑bedroom apartments, each with full bathrooms and double‑sink vanities.; Two additional buildings built between 2014 and 2015, including a side‑by‑side duplex and a building with two 3‑bedroom units plus rental office.
