506 Seneca St Ithaca, NY 14850
- Dormitories
- 4,168 SF
- 0.21 lot acres
Current Use by Public Records
- Dormitories
Property Details for 506 Seneca St
- Year built
- 1895
- Lot size
- 0.21 lot acres
- Property size
- 4,168 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional six-unit multifamily property, located at 506 E Seneca St in Ithaca, NY, presents a compelling investment opportunity. Built in 1895 and situated on a 0.21-acre lot, this charming building boasts 4,168 square feet of living space. Its prime location in the heart of College Town places it within easy walking distance of Cornell University and downtown Ithaca, ensuring high occupancy rates and strong rental income. The property's historic character is complemented by modern conveniences, making it an attractive option for students. Six convenient parking spaces are included, a significant advantage in a bustling college town. The asking price is $720,000. This well-maintained property offers a blend of historical charm and modern practicality, making it an ideal investment for those seeking a stable and potentially lucrative return in a desirable location. The property is currently owner-occupied. This is a rare opportunity to acquire a well-positioned multifamily asset in a thriving college market. The property's strong location and existing infrastructure make it a low-maintenance investment with high potential for future appreciation. The building's history adds to its unique appeal, offering a blend of character and modern convenience. This is a turnkey investment ready for immediate income generation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ithaca
- County
- Tompkins
- State
- New York
- Longitude
- -76.4916919
- Latitude
- 42.4408708
