316 Seneca Street

About this home

Fully occupied, income-producing triplex in downtown Ithaca with gross annual rental income of approximately $58,000 and net operating income exceeding $36,000. All three units are leased through next July, providing immediate cash flow for investors. Financial information is available for qualified buyers. Ideally located within walking distance of The Commons, Cornell University, restaurants, shopping, and Wegmans, this well-maintained property includes a spacious 3-bedroom apartment, a large 1-bedroom apartment, and a studio apartment. Significant improvements include a new boiler (2022), new hot water heater (2024), porch roofs (2024), and the main roof replaced in 2014. The current Certificate of Occupancy is valid through September 2026 and a new 3-year COO is in progress. The 3-bedroom apartment and studio are furnished, and utilities (except phone, cable, and internet) are included. This is an excellent opportunity for investors seeking a stabilized multifamily property with established tenants and a strong rental history in one of Ithaca's most desirable rental markets. All three units are fully leased providing immediate income from day one. Long term tenants and stable occupancy!

Interior features

• Window Treatments

Exterior features

• Private Yard
• See Remarks

Appliances

• Gas Water Heater

Mechanical

Schools

Tax & finance

Location

Ithaca, NY 14850 · Tompkins County

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