FOR SALE: 512 University Ave Ithaca NY

Property Description

Fantastic real estate investment opportunity beside Cornell's west campus. Route 10 bus line across the street servicing many campus locations and downtown. Future student center planned nearby creating future demand hub. Income for 24/25 leasing period is $70800. Property fully rented since October 2023 for 24/25. Operating expenses for calendar year 2023 were $7631. Assessed property value for 2025 to drop significantly with positive effect to taxes paid. Turnkey rental property with aesthetic improvements needed at buyers discretion. 3 electric meters and 2 gas meters. 1 electric meter services mec room light and radon fan. 2 boilers and 2 hot water heaters. 1 water meter. Furniture carries with property. Hardwood floors throughout.

Source: NYS

MLS#: R1540647

343 days on site

Robert William Armstrong - IBrarmstrong | PPM Homes LLC - IB701

Property Details

General Info

• Bedrooms: 6

• Bathrooms: 3

• Area: Ithaca-City-500700

• County: Tompkins

• Neighborhood: Section 341

• Year: 1900

• Lot Size: 0.14 acres

• Annual Taxes: $22325

• School District: Ithaca

Parking Features

• On Street

Property Features

• Near Public Transit

• Rectangular

• Residential Lot

• Connected

• Public

• Wood Siding

Community Features

• Not Age Restricted

Interior Features

• Furnished

• Basement: Partial

• Basement: Walk-Out Access

• Hardwood

• Marble

• Varies

• Washer Hookup

Property Style

• Duplex

Financial Features

• Conventional

• Standard

Property Subtypes

• Duplex

Heating Features

• Gas

• Baseboard

Pool Features

• No Private Pool

Upcoming Open Houses

No open houses currently scheduled. Contact us to schedule a tour!

Schedule a Showing at 512 University Ave

Courtesy of PPM Homes LLC

New York State Alliance of MLSes

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Last updated May 2nd 2025, 2:53am

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