Leased Eight-Bedroom Multifamily
For Sale
$995,000
133 Linden Avenue, Ithaca, NY 14850
Fully occupied rental property near Cornell University with CR3 zoning supporting three-story construction.
Property Size2,510 SF
Price / SF$396.41
Days on Market61
Property Features for 133 Linden Avenue
General Information
Standard status
Active
Size
2,510 SF
Property subtype
Multi Family
Zoning
CR3
Occupancy
100%
Listing Agency:
Howard Hanna S Tier Inc
(607) 257-0800
Listed By:
Kyle Steele
(607) 342-2148
Source:
Nicholcityrealty
Added: Aug 16
Changed: Oct 3
Last Checked: Oct 14 at 10:33PM
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 Howard Hanna S Tier Inc
Investment Insights
Based on property information with market context.
This multifamily property at 133 Linden Avenue contains an 8-bedroom rental residence with 2,510 square feet of property size. The home is fully leased and occupied through the 2025 school year, providing an established rental operation.
The property is within walking distance of Cornell University’s Collegetown and the university’s central area, placing it near a major academic institution. CR3 zoning allows 3 stories of construction, providing a defined redevelopment framework. The adjacent property at 129 Linden Ave is also offered for sale, creating a potential opportunity to evaluate both parcels together.
The property is within walking distance of Cornell University’s Collegetown and the university’s central area, placing it near a major academic institution. CR3 zoning allows 3 stories of construction, providing a defined redevelopment framework. The adjacent property at 129 Linden Ave is also offered for sale, creating a potential opportunity to evaluate both parcels together.
Key Highlights
- 8‑bedroom multifamily rental property with 2,510 square feet of property size
- Fully leased and occupied through the 2025 school year
- Within walking distance of Cornell University’s Collegetown
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,788
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,760
$615.8K
Cap Rate 7%
$439,829
$439.8K
Cap Rate 9%
$342,089
$342.1K
Market Conditions
NOI Build-Up for 2,510 SF
Gross rent
$58.4K $23.28/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$56.0K $22.30/SF
− OpEx
−$25.2K −$10.04/SF
NOI
$30.8K $12.27/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,760
Cap Rate 7%
$439,829
Cap Rate 9%
$342,089
Alternative Uses
Best Use
Apartment 5plus
$439.8K
$384.9K – $513.1K
NOI $30,788 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.2K
$685.3K – $913.8K
NOI $54,826 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Explore this area
Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied rental property near Cornell University with CR3 zoning supporting three-story construction.
Where is this multifamily property located?
The property is located at 133 Linden Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 8‑bedroom multifamily rental property with 2,510 square feet of property size; Fully leased and occupied through the 2025 school year; Within walking distance of Cornell University’s Collegetown
