USANYIthaca315 S Albany St
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$845,000

For Sale

8 days ago

315 S Albany St, Ithaca, NY

House

MLS® R1718256

4 Bed

0 Bath

5606 sqft

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  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 5606 sqft
Garage 
Taxes $15,161
Days Active 8
Lot Size 0.1837 Acres
Approx. Age 1874
Avg. Price Per Sqft $150
MLS® Number R1718256

Property Address: 315 S Albany St, Ithaca, NY, 14850-5436

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

Description

Handsome downtown City of Ithaca investment property offering seven fully leased apartments with leases in place into 2027, providing an established income stream in a highly convenient location near parks, schools, shopping, dining, the TCAT bus line and city center. This well-maintained 19th-century building was once the home of a prominent Ithacan with deep ties to the community and retains an appealing blend of historic character and functionality. Rich woodwork, ornate detailing, stained glass, built-ins, a marble fireplace, high ceilings, hardwood floors and a distinctive Victorian-style staircase add character to select units and common areas while creating the appeal of a classic Ithaca apartment building. The seven-unit mix includes three studios, three one-bedroom apartments and one two-bedroom apartment, offering a diverse tenant mix with smaller units that can provide attractive rent-per-square-foot potential and access to a broad rental pool. Most tenants are established, contributing to stable occupancy and a solid rental history, with current gross rents totaling $92, 760 annually. Units have been selectively updated over time as they became available, creating an opportunity for a new owner to continue improvements and capture potential future rental growth. A full walk-up attic provides valuable storage, while the full walkout basement offers additional utility and storage space. Off-street parking for multiple vehicles is an added benefit in this downtown setting. A well-cared-for investment property combining established rental income, a desirable unit mix, strong location and opportunities for continued value enhancement.
MLS® NumberR1718256
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1874
BasementCrawl Space, Full, Walk Out Access
DrivewayThree Or More Spaces, Driveway, No Garage
Garage Spaces
HeatGas, Hot Water, Radiators
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Sep 29, 2026List Date
$845,000List Price
  • Commute

Commute

Starting Address
Destination Address
315 S Albany St, Ithaca, NY

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