Four-Unit Quadplex with
For Sale
$690,000
316 S Aurora Street, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size4,500 SF
Lot Size0.05 Acres
Price / SF$153.33
Days on Market296
Property Features for 316 S Aurora Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential Multi Use
Bedrooms
14
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 3, Bedroom 12, Bedroom 9, Bathroom 1, Bedroom 6, Bedroom 11, Bedroom 10, Bedroom 7, Bedroom 14, Basement, Bedroom 1, Bedroom 3, Bedroom 8, Bathroom 2, Bedroom 5, Bedroom 13
Patio and Porch features
Deck
Interior features
Attic
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Directions
S. Aurora St, on the corner of Pleasant St.
Subdivision
Ithaca-City-500700
Standard status
Active
APN
500700-081-000-0008-011-000-0000
Size
4,500 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
22143
Utilities
Heating system
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Amenities
on-site parking
Building Details
Year built
1910
Floors in Building
3
Number of units
4
Flooring type
Hardwood, Tile, Varies, Carpet
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Heritage Realty
(607) 428-0708
Listed By:
Melissa Skodzinsky · License #30SK0987831
(607) 227-2863
Added: Dec 15, 2025
Changed: Sep 12
Last Checked: Oct 7 at 2:06PM
MLS# S1654841
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,500-square-foot quadplex contains four apartments distributed across two tax parcels. The unit mix includes two three-bedroom apartments and two four-bedroom apartments. The 1910 frame property includes four bathrooms, a basement, attic space, decks, and on-site parking. Interior finishes include hardwood, tile, and carpet, with natural-gas hot-water and baseboard heating, a gas water heater, and public water service.
The property is located at 316 S Aurora Street in Ithaca’s South Hill area, near The Commons, Cornell University, and Ithaca College. Its 0.05-acre site supports the existing multifamily configuration, while laundry income adds an operating component to the property.
The property is located at 316 S Aurora Street in Ithaca’s South Hill area, near The Commons, Cornell University, and Ithaca College. Its 0.05-acre site supports the existing multifamily configuration, while laundry income adds an operating component to the property.
Key Highlights
- Four apartments with a mix of two 3‑bedroom and two 4‑bedroom units
- 4,500 square feet across two tax parcels
- On‑site parking and laundry income
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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,552
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential apartments span two tax parcels and include on-site parking in a South Hill setting.
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 with a mix of two 3‑bedroom and two 4‑bedroom units; 4,500 square feet across two tax parcels; On‑site parking and laundry income
