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    163 Ridge Rd Lansing, NY 14882

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    For Sale
    $660,000

    Fully renovated multifamily property optimized for short-term rental.

    Lot size:
    0.77 Acres

    Property Features for 163 Ridge Rd

    General Information

    Lot size
    0.77 Acres

    Building Details

    Year built
    1966

    Source: Yaman Commercial Industrial Agent Stephanie Jacobson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Lansing Multifamily Property

    This Lansing multifamily property has been fully renovated and optimized for short- and mid-term rental, generating a gross annual income of $101,542. The property's location offers proximity to Myer's Park, shopping, and restaurants. The main unit features a fireplace, bright layout, updated kitchen with bar seating and open dining area, and a covered raised deck. The lower unit includes a fireplace, walkout covered patio, open kitchen and living space, and bedrooms. Both units are fully furnished in mid-century modern style and feature custom lighting and fixtures. The property is a legal three-unit building, currently operating as two units, with the potential for the buyer to add an ADU.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Building Supply Spa & Massage Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Grocery Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Tompkins
    State
    New York
    Longitude
    -76.5208204
    Latitude
    42.5417464

    Nearby Similar for Sale

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      Approved Project Near Ithaca

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      Lansing Commercial Development Land

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    FAQs

    What type of property is this?
    Multifamily property - Fully renovated multifamily property optimized for short-term rental.
    Where is this multifamily property located?
    The property is located at 163 Ridge Rd Lansing, NY.
    What is the asking price?
    The asking price for this property is $660,000.
    What are key features of this property?
    This property features: - High Gross Income: $101,542/year, ideal for investors.; - Fully Renovated and Optimized for Short- and Mid-Term Rental: Ready for immediate income generation.; - Fully Furnished: Includes mid-century modern furnishings, custom lighting and fixtures.
    (607) 857-3864
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    163 Ridge Rd Lansing, NY 14882
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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
    163 Ridge Rd Lansing, NY 14882
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