Map of Property

4-Unit Investment Near Campus

24-26 South Ave , Cortland, NY 13045

  • For Sale $375,000
  • Property Type Multi-Family
  • Property Size 4,928 SF
  • Units 4
  • Lot Size 0.23 Acre
  • Property Tenancy Multi-Tenant
  • Building Class C
  • Year Built 1870
  • Date Updated Jun 19, 2025
10 mins walk to SUNY CortlandLocated less than a block from SUNY Cortland and walkable to downtown, this 7,392 SF fourplex offers four large 3–4BR flats, each with updated kitchens and separately metered electric. Recent building upgrades include serviced boilers, newer roofs, vinyl windows, and coin-op laundry in the dry basement with lockable storage. The 0.23-acre lot includes off-street parking and zoning flexibility (R-2) that could allow ADU expansion. Below-market rents present significant upside with light renovation or tenant turnover. Ideal for investors seeking stable income, appreciation, and high rental demand in a proven market. Can be sold individually or as a package with 16 South Ave and 35 Clinton St. For more information, call Heriberto "Eddy" Pezzino, Lic. RE Salesperson at (607) 372-3214.
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Highlights

  • 100% occupancy with gross rent of $4,860/month ($58,320/year)
  • 4-unit / 15-bedroom multifamily just 10 mins walk to SUNY Cortland
  • 7,392 SF two-story building on 0.23-acre city lot (zoned 05-COMME)
  • Can be purchased individually or as a package with 16 South Ave, Cortland & 35 Clinton St, Homer
  • Cap Rate: 10.9%
  • NOI: $41,027 annually | Low operating expenses at ~$17.3K/year
  • Paved off-street parking for 4–6 vehicles
  • Separate electric & gas (tenant-paid); landlord pays water/sewer
  • Unit 26-1 has central A/C; all units with gas forced-air heat
  • Unit mix: (3) 4BR units + (1) 3BR unit | All ~1,200 SF each
  • Updated leases with potential for $70K+ gross income via rent lift
  • Value-add: Below-market rents offer $200–300/unit upside

Contacts

broker
Virginia Squire, CCIM

Yaman Commercial

Location

Getting Around

  • Walk Score ®

    65/100 Somewhat Walkable

  • Bike Score ®

    50/100 Bikeable
Powered by Walk Score ®
  • City Cortland, NY
  • Zip Code 13045

Points of Interest

  • Citgo

    0.41 miles

  • Sunoco

    0.51 miles

  • Speedway

    0.72 miles

  • Tesla Supercharger

    1.23 miles

  • Mobil

    1.30 miles

  • Kwik Fill

    1.37 miles

  • Byrne Dairy Homer

    2.90 miles

  • Hoxie Gorge Road Parking

    6.14 miles

  • Finger Lakes Trail - Van Donsel Road Trailhead

    6.77 miles

  • Finger Lakes Trail - Babcock Hollow Road Trailhead

    8.14 miles

  • Trail parking

    9.50 miles

  • Dryden Rail Trail

    9.85 miles

  • Dryden rail trail parking

    9.92 miles

  • Imperial Motel

    0.48 miles

  • Casey Tower

    0.51 miles

  • Dragon Hall

    0.53 miles

  • Shey Hall

    0.55 miles

  • Alger Hall

    0.57 miles

  • Glass Tower

    0.58 miles

  • Econo Lodge

    0.67 miles

  • Red Roof Inn

    1.41 miles

  • Hampton Inn Cortland

    1.43 miles

  • Clarion Inn & Suites

    1.47 miles

  • Rock Sports Bar

    0.38 miles

  • D.P. Dough

    0.39 miles

  • Cortland Diner

    0.40 miles

  • Gorgers

    0.46 miles

  • BRIX Pubaria

    0.53 miles

  • Wild Ginger

    0.55 miles

  • Neubig Hall

    0.59 miles

  • Asian Delicious

    0.65 miles

  • Pontillo's Pizzeria

    0.76 miles

  • Fat Jacks

    0.88 miles

  • Randall Elementary School

    0.44 miles

  • Cortland Jr. Sr. High School

    0.50 miles

  • Higgins Hall

    0.52 miles

  • Cornish-Van Hoesen Hall

    0.57 miles

  • Old Main

    0.58 miles

  • State University of New York College at Cortland

    0.62 miles

  • Parker Elementary School

    0.85 miles

  • Saint Mary's Parochial School

    0.90 miles

  • Cortland Alternative School

    1.29 miles

  • Seven Valleys New Tech Academy

    1.30 miles

Frequently Asked Questions

How much does 4-Unit Investment Near Campus cost?

The space currently listed for sale at 4-Unit Investment Near Campus asks for $375,000.

What is the total square footage of 4-Unit Investment Near Campus?

4-Unit Investment Near Campus totals 4,928 square feet.

When was this property built?

4-Unit Investment Near Campus was built in 1870.

Looking for more in-depth information on this property?

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Contact Listing Broker
broker
Virginia Squire, CCIM

Yaman Commercial

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