213 Dearborn PL, Ithaca, NY 14850
213 Dearborn PL, Ithaca, NY 14850
213 Dearborn PL, Ithaca, NY 14850
213 Dearborn PL, Ithaca, NY 14850
213 Dearborn PL, Ithaca, NY 14850
213 Dearborn PL, Ithaca, NY 14850
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Felix Vasquez

Felix Vasquez

+1(917) 474-5126
$ 850,000
Est. payment | /mo

8 Beds

4 Baths

4,346 SqFt

Save
$ 850,000
Est. payment | /mo
Save

8 Beds

4 Baths

4,346 SqFt

Key Details

Property Type Multi-Family, Mobile Home

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,346 sqft

Price per Sqft $195

MLS Listing ID R1696631

Style Triplex

Bedrooms 8

Full Baths 3

Half Baths 1

Construction Status Existing

HOA Y/N No

Year Built 1908

Annual Tax Amount $14,490

Lot Size 7,840 Sqft

Acres 0.18

Lot Dimensions 55X141

Property Sub-Type Multi Family

Property Description

An exceptional investment opportunity in Ithaca's nationally recognized Cornell Heights Historic District, just steps from Cornell University's North Campus. Combining historic character, proven rental performance, and significant upside potential, this well-maintained income property is legally approved for occupancy by up to 13 unrelated individuals within the R-2A zoning district, offering remarkable flexibility for investors. Currently configured for strong cash flow, the property features three separate kitchens, four full bathrooms, one half bath, and a flexible rental layout consisting of a private one-bedroom lower-level apartment, a two-bedroom main-level apartment, and a five bedroom apartment occupying the second and third floors. The current configuration generates $$89,400 in annual gross rental income, while the property's legal occupancy provides an attractive value-add opportunity for future income growth. Rich in architectural character, the residence showcases original hardwood floors, classic woodwork, high ceilings, oversized windows, and generously proportioned living spaces that continue to attract tenants year after year. The updated kitchens and baths blend modern functionality with the home's historic charm, while the spacious bedrooms, multiple common areas, and flexible floor plan accommodate a variety of rental configurations. Outside, the property offers off-street parking, an amenity in high demand for Cornell-area rentals, along with an unbeatable location within easy walking distance of Cornell University's North Campus, nearby bus routes, dining, and shopping. The enduring appeal of the Cornell Heights Historic District, combined with consistent rental demand and legal occupancy for up to 13 unrelated residents, makes 213 Dearborn Place a compelling opportunity for investors seeking both immediate cash flow and long-term appreciation.

Location

State NY

County Tompkins

Area Ithaca-City-500700

Rooms

Basement Partially Finished

Interior

Interior Features Natural Woodwork

Heating Gas, Hot Water, Radiator(s)

Flooring Hardwood, Tile, Varies

Fireplaces Number 2

Fireplace Yes

Window Features Leaded Glass

Appliance Gas Water Heater

Exterior

Utilities Available Sewer Connected, Water Connected

Roof Type Shingle

Building

Lot Description Near Public Transit, Rectangular, Rectangular Lot, Residential Lot

Story 3

Foundation Poured

Sewer Connected

Water Connected, Public

Architectural Style Triplex

Structure Type Attic/Crawl Hatchway(s) Insulated,Blown-In Insulation,Stucco

Construction Status Existing

Schools

Elementary Schools Cayuga Heights Elementary

School District Ithaca

Others

Senior Community No

Tax ID 500700-009-000-0004-002-000-0000

Security Features Fire Escape

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Listed by Howard Hanna S Tier Inc 607-351-1823

Nearby Locations

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Felix Vasquez
Felix Vasquez

Licensed Real Estate Salesperson

+1(917) 474-5126 | felixvasquezrealty@gmail.com

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213 Dearborn PL