- For Sale $5,500,000
- Property Type Multi-Family
- Property Size 58,320 SF
- Units 60
- Lot Size 6.62 Acre
- Date Updated Apr 11, 2024
The property is a five (5) building, 60 unit apartment complex in the City of Ithaca. Currently operated as workforce housing in the supply constrained and highly attractive Ithaca market, this presents a prime opportunity to fully renovate interiors and increase rents up by over 60% to $1,600+ vs. ~$980 at present. Nearly all major common area and structural capital improvements are complete, and roofs are new as of 2019. As such, this asset presents a tremendous value add opportunity for the next investor, who can complete the necessary in-unit renovations to offer affordable and attractive apartments in a highly desirable suburban setting with easy access to educational, shopping, business, health-care and entertainment facilities.
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Location
Getting Around
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Walk Score ®
58/100
Somewhat Walkable
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Bike Score ®
43/100
Somewhat Bikeable
- City Ithaca, NY
- Neighborhood West Hill
- Zip Code 14850
- Market Buffalo
Points of Interest
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Citgo
0.25 miles
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Ithaca Fastrac
0.47 miles
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Mirabito
0.48 miles
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Mobil
0.52 miles
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Citgo
0.64 miles
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Tops Express Gasoline
0.80 miles
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Tops Gas Station
0.80 miles
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Sunoco
0.97 miles
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Kwik Fill
1.08 miles
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Byrne Dairy
1.13 miles
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Cayuga Street Parking Garage
1.02 miles
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Green Street Parking Garage
1.05 miles
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Seneca Street Garage
1.10 miles
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Fall Creek access parking lot
1.28 miles
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Gun Hill Residence Parking
1.41 miles
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N Lot
1.57 miles
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Dryden Rd Garage
1.60 miles
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Y Lot
1.60 miles
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O Lot (Blue Section)
1.63 miles
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S Lot (Extension)
1.64 miles
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Super 8 Ithaca
0.60 miles
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Meadow Court Inn
0.72 miles
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Ithaca Gorge
0.84 miles
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The Hotel Ithaca
0.99 miles
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Hilton Garden Inn
1.06 miles
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Ithaca Marriott Downtown on the Commons
1.15 miles
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The William Henry Miller Inn
1.15 miles
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Canopy by Hilton Ithaca Downtown
1.17 miles
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Hampton
1.18 miles
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Comfort Inn
1.24 miles
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Mama Teresa's Pizzeria
0.23 miles
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Kelly's Dock-Side Cafe
0.28 miles
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Kelly's
0.29 miles
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The Boatyard Grill
0.40 miles
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Maxie's Supper Club & Oyster Bar
0.43 miles
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Joe's
0.48 miles
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Milkstand
0.50 miles
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Jade Garden
0.51 miles
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Tamarind
0.51 miles
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Dunkin'
0.56 miles
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Lehmann Alternative Community School
0.11 miles
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Immaculate Conception Parochial Roman Catholic School
0.73 miles
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Beverly J. Martin Elementary School
0.80 miles
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Greater Ithaca Activities Center (GIAC)
0.80 miles
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New Roots Charter School
0.96 miles
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Fall Creek School
1.31 miles
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South Hill School
1.37 miles
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Ithaca High School
1.38 miles
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Cascadilla School
1.75 miles
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Ithaca College
1.86 miles
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Downtown Ithaca Children's Center
0.84 miles
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Varna After School Program
4.09 miles
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Primitive Pursuits 4-H Acres
5.50 miles
Frequently Asked Questions
What is the lease rate for 139 Chestnut St?
Rental asking rate at 139 Chestnut St is $2,750,000.00/YR.
What is the total square footage of 139 Chestnut St?
139 Chestnut St totals 58,320 square feet.
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