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34243797
34243780

116 FERRIS PL, ITHACA, NY 14850

TC
NY 30VI826997
Berkshire Hathaway HomeServices CNY Realty Fayetteville
Listed by Berkshire Hathaway HomeServices CNY Realty Fayetteville
$1,570,000
7 days on market
Updated 7 days ago

116 FERRIS PL # 18 ITHACA NY 14850

Details
APN 500700 82.-9-1
Property Type Multifamily
Square Footage 8,902
Units 6
NOI $174,780
Occupancy 100%
Tenancy Multi
Year Built 1900
Buildings 1
Stories 3
Acreage 0.270
Sale Condition N/A

Collegetown Multi-Unit. Located between Cornell, 6 Mile Creek Preserve and the Commons.

Marketing description

Just off State Street, a few blocks south of Collegetown Center and just up the hill from the Commons, this large 24-bedroom building is nestled along the gorges and preserves. It’s just above the Six Mile Creek Preserve, and the footbridge over the creek is just a few hundred feet down the street. Out the back windows, it’s all beautiful greenery and shade. A large duplex building, it is divided into a number of apartments. Sitting just below a large, new, upscale complex, this charming location offers apartments with bay windows in many units and large rooms uncommon in today’s cookie-cutter new housing. The pricing is appealing to students while leaving plenty of room for increased income through improvements. Come look it over and see how this property would fit into your portfolio. Apartment room distribution: 116-1: 5 bedrooms, 2 baths; 116-2: 3 bedrooms, 1 bath; 116-3: 2 bedroom, 1 bath; 118-1: 6 bedrooms, 1 bath; 118-2: 4 bedrooms, 1 bath; 118-3: 3 bedrooms, 1 bath. Delayed offers are in effect. No offers will be reviewed until Wednesday, July 1, at 10:00 a.m. Delayed Offers in effect, no offers will be reviewed until Wednesday, July 1 @ 10:00 am.

State street East, ( up from the commons) to Ferris. turn left. ( Ferris leads to Valentine and Quarry)

Investment highlights

This property is tenant-occupied, and confirmation to view will take time. All requests should be for about 30 or more hours in the future to allow us time to confirm with tenants. TEXT Jala Bayo @ 202-641-5181. He will contact tenants, and then confirm your appointment. All offers will take 48 hours for a response. Please use [email protected] for all DotLoop offers and correspondence. Boiler is in unit 116. Two water heaters, one replaced in 2023 and the other in 2024. Some fuses.

Listing Contacts

TC
NY 30VI826997
Berkshire Hathaway HomeServices CNY Realty Fayetteville
Listed by Berkshire Hathaway HomeServices CNY Realty Fayetteville

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$174,780.00
$14,565.00/mo

Valuation Metrics

0
DSCR
11.13%
Cap Rate
11.13%
ROI

Map

Zoning

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R-2A ResidentialTwo FamilyTwo Family Residential
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View all 18 uses
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Last updated Jul 3, 2026 For deeper zoning details, reports are available at Zoneomics

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