USANYCortlandPalmer52 + 70 Prospect - Tompkins

New

Virtual Tour

$2,895,000

For Sale

8 days ago

52 + 70 Prospect Tompkins, Cortland, NY

MLS® S1704316

0 Bed

0 Bath

10336 sqft

25 Parking

Key Facts
Description
Map

Key Facts

Type Other

Levels Commercial Sale

Size 10336 sqft

Garage No

HOA Fees

Taxes $45,080

Days Active 7

Approx. Age 1900

Avg. Price Per Sqft $280

MLS® Number S1704316

Property Address: 52 + 70 Prospect - Tompkins, Cortland, NY, 13045

Average square foot calculated using Size range provided by listing agent.

Description

Premier SUNY Cortland Student Housing Portfolio Investment Opportunity. Exceptional opportunity to acquire two high-performing student housing properties in the heart of Cortland's premier off-campus housing district. Together, these income-producing assets offer a combined 51 bedrooms, 15 bathrooms, and 28 on-site parking spaces, providing investors with exceptional scale, dependable cash flow, and long-term appreciation potential in one of Central New York's strongest student housing markets. The portfolio includes 52 Prospect Terrace, located directly across the street from SUNY Cortland, featuring four rental units configured as one 5-bedroom, 2-bath unit; two 8-bedroom, 2-bath units; and one 10-bedroom, 3-bath unit. Just steps from campus, this property's unmatched location has produced consistently strong occupancy, reliable rental income, and exceptional student demand year after year. Also included is a fully leased student housing property currently serving as housing for one of SUNY Cortland's fraternities. This approximately 5, 000-square-foot building features 20 bedrooms, 7 bathrooms, and a long-standing history of repeat tenancy from the same organization. The property has benefited from extensive capital improvements, including renovated kitchens, new flooring throughout, fresh interior and exterior paint, a new boiler, new hot water heater, electrical system upgrades, complete first-, second-, and third-floor renovations, four fully renovated bathrooms, and numerous additional building improvements. Both properties are ideally located within easy walking distance of SUNY Cortland and downtown Cortland, placing them among the community's most desirable off-campus housing options. Their proven group leasing structures, established operating histories, and consistently high occupancy provide investors with stable income and strong long-term investment performance. Opportunities of this scale are rare in this market. Limited inventory, barriers to new development, premier locations, and a proven rental history, this portfolio is an exceptional opportunity for investors to expand or acquire a flagship student housing with immediate income.

MLS® NumberS1704316

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1900

Stories3

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatGas, Baseboard

A/C

Extras

Other - See Remarks

Price History

-End Date

Not Sold YetSold Price

For Sale

Aug 11, 2026List Date

$2,895,000List Price

Commute

Commute

Starting Address

Destination Address

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