Four-Unit Quadplex with Radiant
For Sale
Contact for pricing
Pending
212 Linden Avenue, Ithaca, NY 14850
Quadplex features floor radiant heat, a central stairwell, and three apartment entry doors, with tenant-paid parking.
Property Size4,656 SF
Days on Market121
Property Features for 212 Linden Avenue
General Information
Standard status
Pending
Size
4,656 SF
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
CR4
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices CNY Realty Fayetteville
Listed By:
Thalia Collis · License #NY 30VI826997
Source:
Crexi
Added: Jul 7
Changed: Oct 25
Last Checked: Nov 4 at 1:32PM
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 Fayetteville
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Investment Insights
Based on property information with market context.
This quadplex offers four units with radiant heat installed in the floor. A comfortable porch provides access to the main entry, and all units connect through a layout that includes a center stairwell. Apartments 2 and 3 are arranged in a U-shape around the central stairwell, and the property has three entry doors to the apartments, supporting flexible day-to-day use within the existing configuration.
The property is located in Collegetown, in a setting described as parallel to College Avenue, with Linden Avenue running approximately three blocks from Mitchell Street to Dryden Road on the west side. The area is zoned CR4, and nearby neighbors have completed or started five-story buildings as allowed by this zoning type.
Tenants also pay for parking. Delayed offers are in effect, with no offers reviewed until Thursday, July 2 at 2:00 pm.
The property is located in Collegetown, in a setting described as parallel to College Avenue, with Linden Avenue running approximately three blocks from Mitchell Street to Dryden Road on the west side. The area is zoned CR4, and nearby neighbors have completed or started five-story buildings as allowed by this zoning type.
Tenants also pay for parking. Delayed offers are in effect, with no offers reviewed until Thursday, July 2 at 2:00 pm.
Key Highlights
- 4‑unit quadplex built in 1900 with radiant floor heat
- Central stairwell with apartments 2 and 3 laid out in a U shape around the stairwell
- Three apartment entry doors from the porch area, with potential for flexible studio/1BR configurations based on layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,628
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,560
$1.2M
Cap Rate 7%
$880,400
$880.4K
Cap Rate 9%
$684,756
$684.8K
Market Conditions
NOI Build-Up for 4,656 SF
Gross rent
$92.2K $19.80/SF
− Vacancy
−$4.1K −$0.89/SF
EGI
$88.0K $18.91/SF
− OpEx
−$26.4K −$5.67/SF
NOI
$61.6K $13.24/SF
Area
Tompkins County, NY
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,560
Cap Rate 7%
$880,400
Cap Rate 9%
$684,756
Alternative Uses
Best Use
Multifamily LT 5
$880.4K
$770.4K – $1.03M
NOI $61,628 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$815.9K
$713.9K – $951.9K
NOI $57,112 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,701 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex features floor radiant heat, a central stairwell, and three apartment entry doors, with tenant-paid parking.
Where is this quadplex located?
The property is located at 212 Linden Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 4‑unit quadplex built in 1900 with radiant floor heat; Central stairwell with apartments 2 and 3 laid out in a U shape around the stairwell; Three apartment entry doors from the porch area, with potential for flexible studio/1BR configurations based on layout
