Five-Unit Apartment
New
For Sale
$505,000
526 W Seneca Street, Ithaca, NY 14850
MultiFamily, Ithaca, NY
Property Size3,074 SF
Lot Size0.20 Acres
Price / SF$164.28
Days on Market4
Property Features for 526 W Seneca Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 4, Bedroom 2, Basement, Bedroom 1, Bedroom 3
Parking features
Garage
Interior features
NaturalWoodwork
Exterior features
BlacktopDriveway
Appliances
ElectricWaterHeater, FreeStandingRange, Oven, Refrigerator
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Directions
N. Meadow St to W. Seneca St
Subdivision
Ithaca-City-500700
Standard status
Active
APN
500700-059-000-0006-020-000-0000
Size
3,074 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
10006
Utilities
Heating system
Radiant, Natural Gas
Water source
Public
Amenities
hardwood floors
original woodwork
covered front porch
natural light
Building Details
Year built
1890
Floors in Building
2
Number of units
5
Flooring type
Varies, Hardwood, Tile, Carpet
Building materials
WoodSiding
Roof type
Asphalt
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Heritage Realty
(607) 428-0708
Listed By:
Melissa Skodzinsky · License #30SK0987831
(607) 227-2863
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 31 at 4:06AM
MLS# S1725125
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.
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Investment Insights
Based on property information with market context.
This 3,074-square-foot apartment building contains five residences: two studios, two one-bedroom apartments, and one two-bedroom apartment. Built in 1890, the property has wood siding, hardwood floors, original woodwork, and a covered front porch. Interior flooring also includes tile and carpet, and heating is provided by natural gas and radiant systems. A garage and blacktop driveway serve the property, which occupies 0.2 acres.
The building is near downtown Ithaca shopping, dining, entertainment, and other amenities. Its apartment mix combines smaller studio layouts with one- and two-bedroom residences.
The building is near downtown Ithaca shopping, dining, entertainment, and other amenities. Its apartment mix combines smaller studio layouts with one- and two-bedroom residences.
Key Highlights
- Five apartments: two studios, two one‑bedroom units, and one two‑bedroom unit
- 3,074 square feet on a 0.2‑acre lot
- Built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,706
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,120
$754.1K
Cap Rate 7%
$538,657
$538.7K
Cap Rate 9%
$418,956
$419.0K
Market Conditions
NOI Build-Up for 3,074 SF
Gross rent
$71.6K $23.28/SF
− Vacancy
−$3.0K −$0.98/SF
EGI
$68.6K $22.30/SF
− OpEx
−$30.9K −$10.04/SF
NOI
$37.7K $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%
$754,120
Cap Rate 7%
$538,657
Cap Rate 9%
$418,956
Alternative Uses
Best Use
Apartment 5plus
$538.7K
$471.3K – $628.4K
NOI $37,706 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$959.2K
$839.3K – $1.12M
NOI $67,146 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,189
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
Frequently Asked Questions
What type of property is this?
Apartment building - A varied apartment mix is offered in a wood-sided property near downtown Ithaca.
Where is this apartment building located?
The property is located at 526 W Seneca Street Ithaca, NY.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Five apartments: two studios, two one‑bedroom units, and one two‑bedroom unit; 3,074 square feet on a 0.2‑acre lot; Built in 1890
