Listed by Warren Real Estate, GREA
$21,550,000
Cornell Student Housing Portfolio
Details
Property Type Multifamily
Sub Type Student Housing
Square Footage 49,657
Beds 154
Cap Rate 7.13%
NOI $1,507,399
Occupancy 100%
Tenancy Multi
Price per SqFt $434
Buildings 8
Lot Size (SqFt) 78,399
Investment Type Stabilized
Multifamily Portfolio | 7.13% CAP | 154 Beds
Marketing description
This exclusive portfolio presents a rare opportunity to acquire a turn key, stabilized and high-performing student housing portfolio in the heart of Ithaca, New York, home to Ivy League institution Cornell University. Consisting of 8 strategically located, 5+ unit properties in Collegetown and North Campus/Cornell Heights, this portfolio totals 154 beds across 53 units and 8 buildings, all of which are either new construction or have undergone comprehensive renovations - offering a strong and consistent rental history driven by steady student demand.
Investment highlights
- All properties have had 100% occupancy at the start of every school year and less than .05% collection loss through entirety of current ownership.
- Prime Locations: All properties are within close proximity to Cornell University and key amenities, catering to Cornell Students, ensuring strong year-round rental demand.
- Diversified Asset Mix: A combination of multi-unit properties, providing income diversification and operational flexibility. All units are fully furnished and feature tenant-paid utilities, ensuring strong cash flow and minimal management overhead.
- Stabilized Income: Consistent occupancy and high rental rates.
- Student Housing Focus: Tailored to meet the needs of undergraduate and graduate students, with proven demand and limited comparable supply in the market.
- Ithaca Growth Market: Benefiting from one of the most resilient rental markets in Upstate New York, supported by a top-tier university and strong local economy.
- All Properties Professionally Operated 5+ Unit Buildings
Listing Contacts
Listed by Warren Real Estate, GREA
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,507,399.00
$125,616.58/mo
Valuation Metrics
0
DSCR
6.99%
Cap Rate
6.99%
ROI
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Zoning
R-3A ResidentialMulti FamilyMultifamily Residential
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View all 28 uses Last updated Mar 25, 2026 For deeper zoning details, reports are available at Zoneomics
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