Multifamily Housing
139 Chestnut Street Ithaca, NY 14850
Details & Description
Price: $5,500,000
    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
    Property ID:    300594
    Property URL: melqr.com/300594
    Generated:    04-19-24
    Listing Agents
    Jonathan Weinstein

    O: 315-445-8508
    M: 315-720-5270
    jweinstein@pyramidbrokerage.com
    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.
    New York / Ithaca / 14850 / 139 Chestnut Street

    139 Chestnut Street

    Ithaca, NY 14850

    Cayuga Gardens

    Listing ID: 300594
    Print Single-Page Version
    139 Chestnut Street Ithaca, NY 14850 | for Sale | Photo 1
    Building Size: 58,320 SF
    Lot Size: 3.500 AC
    Land Size: 152,460 SF
    Building $/SF: $94.31
    Land $/SF: $36.08
    Price
    $5,500,000
    Description

    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

    Attachments & Files
    y18750-jpp-ZQI.pdf

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    Points of Interest & Demographic Radii

    Points of Interest
    Demographic Radii
    POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
     
    Syracuse History of Multifamily Housing for Sale

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    Ithaca Area Market Trends

    Listing Demographics for 139 Chestnut Street Ithaca, NY 14850

    All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

    1-Mile 3-Miles 5-Miles
    Total Population6,50740,12158,826
    Population Median Age393234
    Population by Age0-9 Yrs534 (8%)2029 (5%)3531 (6%)
    10-19 Yrs598 (9%)7901 (19%)11518 (19%)
    20-29 Yrs1358 (20%)15090 (37%)19197 (32%)
    30-39 Yrs1256 (19%)3983 (9%)5973 (10%)
    40-49 Yrs678 (10%)2830 (7%)4663 (7%)
    50-59 Yrs696 (10%)2912 (7%)4767 (8%)
    60-69 Yrs632 (9%)2613 (6%)4482 (7%)
    70+ Yrs756 (11%)2764 (6%)4696 (7%)
    Median HH Income$49,483$43,654$52,291
    Total Household Income< 24K893 (27%)5184 (33%)6379 (28%)
    25-49K737 (22%)3342 (21%)4576 (20%)
    50-74K693 (21%)2173 (13%)3499 (15%)
    75-99K331 (10%)1158 (7%)1876 (8%)
    100-199K435 (13%)2543 (16%)4200 (18%)
    200K+145 (4%)1250 (7%)2004 (8%)
    Highest Education LevelNo Diploma3378581510
    Diploma or GED75121343525
    Some College52418033024
    Assoc. Degree2869351646
    Bachelors Degree127848697774
    Higher Degree1593752911526
    Total Housing Units3,46117,02824,362
    --Owner-Occupied1,1415,1698,823
    --Renter-Occupied2,09210,48213,711
    Owner-Occupied Values< 100K60219499
    100-199K3619671785
    200-299K46419393181
    300-399K14410211661
    400-499K62444785
    500K+50579913
    Total Working Age Population5,60736,88353,299
    In Work Force3,88020,25829,630
    Not In Work Force1,72716,62623,669
    Workforce Employed3,68119,39728,435
    Workforce Unemployed1998611,194
    Civlian Workforce3,88020,25829,630
    Military Workforce000
    Total Households3,23315,65022,534
    Family Households1,3385,4799,338
    Non-Family Households1,89610,17113,196
    Married Couple8534,3427,464
    Other Family4841,1381,874
    Married w/Child3421,6552,637
    Single Male w/Child26137243
    Single Female w/Child261547887

    Population Change Last Two Decades - Plus Projection

    2000%2010%2020%2030
    New York18,976,457+219,378,102+420,146,131+220,604,030
    Tompkins County96,501+5101,564+4105,836+3109,051

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    Total Working Age Population:

    Total Households:

    No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

    While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

    Common Questions and Answers

    What is the asking price for 139 Chestnut Street in Ithaca?
    The asking price for 139 Chestnut Street is $5,500,000
    What is the building size of this Multifamily property in Ithaca, NY?
    The size of the building/unit at 139 Chestnut Street in Ithaca is 58,320 square feet
    How much land does the Ithaca, NY property at 139 Chestnut Street include?
    139 Chestnut Street in Ithaca includes 3.500 acres of land
    What is the population within 1 mile of 139 Chestnut Street in Ithaca?
    The population within 1 mile of 139 Chestnut Street Ithaca, NY 14850 is 6,507 people.
    Who do I contact for questions about 139 Chestnut Street?
    You should contact the listing agent, Jonathan Weinstein, for any details regarding this commercial listing.

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    Closest Commercial Airports

    Airport Distance (mi)
    Syracuse Hancock International Airport (SYR) 51
    Greater Rochester International Airport (ROC) 75
    Buffalo Niagara International Airport (BUF) 118
    Price
    $5,500,000
    Listing Agent
    Jonathan Weinstein - CRE Agent at

    Jonathan Weinstein

    Cushman & Wakefield

    VIEW AGENT PROFILE

    CONTACT AGENT

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