Lakeside & Parkside Vista
Multifamily Portfolio | 109 Units
Marketing description
Lee & Associates NYC is pleased to present exclusively for sale the portfolio of Lakeside Vista and Parkside Vista, located in Ithaca, New York. This multifamily investment opportunity comprises of 109 total residential units across 6.88 acres of R3-B zoned land. The assets provide investors with immediate, stabilized cash flow supported by in-place operations, coupled with long-term redevelopment and densification optionality driven by low site coverage and favorable zoning.
Located in proximity to the flourishing Downtown Ithaca submarket and surrounded by Cornell University and Ithaca College, Lakeside Vista consists of 58 units situated on 3.71 acres, while Parkside Vista comprises 51 units on 3.17 acres. The portfolio also includes the vacant corner lot at 224 Fair Street, and a 1,402 square-foot single-family home at 404 Wood Street, which could be included in future development, sold, or leased to tenants. Both properties are currently operated as conventional multifamily communities and are well positioned to serve workforce, student, or hybrid housing demand, allowing for flexible execution under evolving market conditions and municipal approvals.
Investment highlights
- 109 total units across two complementary multifamily assets
- Ability to acquire meaningful scale in a high-barrier, supply-constrained market
- Existing income supports valuation and provides immediate yield
- Operational stability reduces downside risk while carrying future optionality
- 6.88 total acres with relatively low site coverage
- Zoned R3-B, allowing for future density enhancement subject to approvals
- Untitled land provides strategic flexibility rather than near-term execution risk
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