Listed by Yaman Commercial
$635,000
Beautiful Finger Lakes STR
Details
APN 503289-035-000-0001-002-000-0000
Property Type Multifamily
Sub Type Apartment Building, Short term rental
Square Footage 2,832
Units 2
Cap Rate 11.90%
NOI $75,354
Tenancy Multi
Rent Bumps Yes
Price per SqFt $224
Year Built 1966
Year Renovated 2023
Buildings 1
Stories 2
Acreage 0.770
Zoning R2
Parking Spaces 2 spaces
Parking per 1,000 SqFt 0.71
Investment Type Stabilized
Multifamily | 3 Units
Marketing description
This charming Lansing triplex has been fully renovated an optimized for short and midterm rental. Guests love the proximity to Myer's Park alongside the convenience of shopping and restaurants. The main unit has a fireplace, bright and airy layout, a fully updated kitchen with bar seating and open dining area, and covered raised deck. The lower unit has a second luxurious fireplace, a walkout covered patio, truly open kitchen and living space, and cozy bedrooms. Both units are fully furnished in mid-century-modern style, and have custom lighting and fixtures. This property is a legal three-unit, but is currently utilizing two; buyer may have ability to add an ADU.
Investment highlights
- Phenomenal location 5-minute drive from Cayuga Lake
- Gross income $126,708 in 2025
- 12 minutes from downtown Ithaca
- Highly desirable vacation destination
- Located in close proximity to two universities
- Renovated from top to bottom in 2023
- Guests enjoy fire pit, sauna, brand new appliances, and more!
Listing Contacts
Listed by Yaman Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$75,354.00
$6,279.50/mo
Valuation Metrics
0
DSCR
11.87%
Cap Rate
11.87%
ROI
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