20-Unit Apartment Building with
New
For Sale
$10,000,000
213 Linden Avenue, Ithaca, NY 14850
Furnished, sprinklered residences include dishwashers, shared coin-operated laundry, and a dedicated parking garage.
Property Size28,665 SF
Price / SF$348.86
Days on Market7
Property Features for 213 Linden Avenue
General Information
Standard status
Active
Size
28,665 SF
Total Parking Spaces
44
Property subtype
Multi-Unit
Additional Details
Furnished
Yes
Sprinkler System
Yes
Multifamily Units
20
Amenities
dishwashers
common coin operated laundry
Building Details
Building Size
28,665 SF
Listing Agency:
Ithaca Office
Listed By:
David Huckle, SIOR · License #10401231043
(607) 277-2327
Source:
Pyramidbrokerage
Added: Oct 14
Changed: Oct 20
Last Checked: Oct 20 at 5:15PM
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 Ithaca Office
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Investment Insights
Based on property information with market context.
This 20-unit apartment building contains 58 bedrooms across 28,665 square feet. All residences are furnished and equipped with dishwashers. Building safety features include a sprinkler system and fire, heat, and smoke detection. A shared coin-operated laundry serves the property, and a 44-car parking garage is included.
The property is at 213 Linden Ave in Ithaca, a short walk from Cornell University’s campus.
The property is at 213 Linden Ave in Ithaca, a short walk from Cornell University’s campus.
Key Highlights
- 20 residential units with 58 bedrooms
- 28,665 square feet of building area
- 44‑car parking garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$351,612
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,032,240
$7.0M
Cap Rate 7%
$5,023,029
$5.0M
Cap Rate 9%
$3,906,800
$3.9M
Market Conditions
NOI Build-Up for 28,665 SF
Gross rent
$667.3K $23.28/SF
− Vacancy
−$28.0K −$0.98/SF
EGI
$639.3K $22.30/SF
− OpEx
−$287.7K −$10.04/SF
NOI
$351.6K $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%
$7,032,240
Cap Rate 7%
$5,023,029
Cap Rate 9%
$3,906,800
Alternative Uses
Best Use
Apartment 5plus
$5.02M
$4.40M – $5.86M
NOI $351,612 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.94M
$7.83M – $10.44M
NOI $626,132 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
20
Residential units
Yes
Sprinkler system
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
Frequently Asked Questions
What type of property is this?
Apartment building - Furnished, sprinklered residences include dishwashers, shared coin-operated laundry, and a dedicated parking garage.
Where is this apartment building located?
The property is located at 213 Linden Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 20 residential units with 58 bedrooms; 28,665 square feet of building area; 44‑car parking garage
