Quadplex with On-Site
For Sale
$690,000
316 S Aurora Street, Ithaca, NY 14850
Four-unit property with two tax parcels, varied apartment layouts, and resident laundry income.
Property Size4,500 SF
Days on Market304
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Property Features for 316 S Aurora Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3 bedroom, 2 x 4 bedroom
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$22,143
Amenities
on-site parking
Building Details
Building Size
4,500 SF
Year Built
1910
Listing Agency:
Berkshire Hathaway HomeServices Heritage Realty
Listed By:
Melissa Skodzinsky · License #30SK0987831
(607) 227-2863
Source:
Griffith-realty
Added: Dec 15, 2025
Changed: Oct 7
Last Checked: Oct 15 at 6:09AM
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 Heritage Realty
Investment Insights
Based on property information with market context.
This 4,500-square-foot quadplex, built in 1910, comprises four apartments across two tax parcels. The unit mix includes two 3-bedroom apartments and two 4-bedroom apartments. Interior finishes include hardwood, ceramic tile, and carpet, with finished areas, attic storage, internet connection, and cable availability. Gas service is also identified among the interior features.
The property is located at 316 S Aurora St in Ithaca, near The Commons, Cornell University, and Ithaca College. Site improvements include on-site parking, a paved driveway, asphalt surfacing, and a deck. Additional property features include a frame exterior and laundry income. The parcel configuration and four-unit layout provide a defined multifamily format for review by investors seeking an income-producing residential property.
The property is located at 316 S Aurora St in Ithaca, near The Commons, Cornell University, and Ithaca College. Site improvements include on-site parking, a paved driveway, asphalt surfacing, and a deck. Additional property features include a frame exterior and laundry income. The parcel configuration and four-unit layout provide a defined multifamily format for review by investors seeking an income-producing residential property.
Key Highlights
- Four apartments totaling 4,500 square feet
- Two tax parcels with a mix of 3‑bedroom and 4‑bedroom apartments
- Built in 1910 with frame construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,563
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,191,260
$1.2M
Cap Rate 7%
$850,900
$850.9K
Cap Rate 9%
$661,811
$661.8K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$89.1K $19.80/SF
− Vacancy
−$4.0K −$0.89/SF
EGI
$85.1K $18.91/SF
− OpEx
−$25.5K −$5.67/SF
NOI
$59.6K $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%
$1,191,260
Cap Rate 7%
$850,900
Cap Rate 9%
$661,811
Alternative Uses
Best Use
Multifamily LT 5
$850.9K
$744.5K – $992.7K
NOI $59,563 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$788.5K
$690.0K – $920.0K
NOI $55,198 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,294 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,714
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?
Quadplex - Four-unit property with two tax parcels, varied apartment layouts, and resident laundry income.
Where is this quadplex located?
The property is located at 316 S Aurora Street Ithaca, NY.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Four apartments totaling 4,500 square feet; Two tax parcels with a mix of 3‑bedroom and 4‑bedroom apartments; Built in 1910 with frame construction
