112 Groton Ave, Cortland, NY 13045

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.