204 Linden Ave 2 Unit Apartment Building Offered at $1,150,000 Ithaca, NY 14850

Positioned in the absolute heart of Cornell University’s Collegetown, 204–206 Linden Avenue represents a rare blend of immediate income, irreplaceable location, and long-term redevelopment upside. This side-by-side duplex offers investors and developers a strategic foothold in one of Ithaca’s most supply-constrained and consistently high-demand submarkets. The existing improvements consist of two well-configured three-bedroom, one-bath residential units, each benefiting from a functional layout that aligns perfectly with the Collegetown rental market. The property is fully leased for the 2025–2026 academic year, providing secure, predictable cash flow from day one. What truly distinguishes 204–206 Linden Avenue, however, is its City of Ithaca CR-4 zoning, which allows for redevelopment of up to four stories of apartments. This zoning classification places the property squarely within the city’s highest-intensity residential corridor, where increased density is not only permitted but actively encouraged as part of Ithaca’s long-term housing and planning goals. Collegetown remains Ithaca’s most proven micro-market for multifamily investment. Its proximity to Cornell’s academic core, research facilities, retail, dining, and transit infrastructure makes it a perennial favorite for tenants and investors alike.