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- LoopNet Team
73 Village Cir
Ithaca, NY 14850
Village Apartments · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- 98 Acres w/ different Development uses with INCOME..WHERE DO YOU FIND 98 acres WITH INCOME AND possible multi unit approval, water & sewer available
- Most Active Economy in Upstate NY, Listing Agent has an informal analysis of highest demand uses needed for immediate development.
- 42 units with $474,000 Gross income, situated adjacent to Commercial Business & light manufacturing, Multi Units & variety of residential uses
PROPERTY FACTS
| No. Units | 20 | Lot Size | 84.07 AC |
| Property Type | Multifamily | Building Size | 45,576 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1980/2015 |
| Building Class | C |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 84.07 AC |
| Building Size | 45,576 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2015 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Yard
- Den
- Dining Room
- Skylights
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
ABOUT 73 VILLAGE CIR , ITHACA, NY 14850
Opportunities like this are rare and immense. Massive development potentials w/ avail municipal water & sewer. Incl. 4 apartment buildings w/ 42 income generating units & 98 acres of land. These buildings plus a small portion of the acreage were in a planned development area (PDA) approved in 2013 to construct 138 multi-family units. This extraordinary Lansing location is located 1 minute from Ithaca Tompkins Regional Airport, Borg Warner Manufacturing & the Cornell Business & Technology Park. Part of the acreage borders a commercially zoned business park (Dutch Mill Rd). While one could propose to develop additional multi-family housing, an experienced & astute investor could propose a variety mixed use developments; addl. apartments, single & 2 family homes, cluster housing, townhouses, condos, retirement community, medical offices or addl commercial use. It would be difficult to find land that has this kind of income while going through the development process. Consider the endless uses. Listing consists of 4 parcels and properties must convey together. They are part of a planned development area (PDA) for the Village Circle - Village Solars PDA. PDA states 138 units may be built. See PDA documents for more information. This PDA is comprised of two separate owners, Village Solars and Lucente Homes, LLC. Properties conveying owned by Lucente Homes, LLC. Buyers Attorney to verify what development rights to be conveyed as well as water and sewer availability which is subject to municipalities approval. Majority of 39 Village Circle zoned R-2 with a portion allocated for the PDA. Other zoning uses may be permitted through Town of Lansing site plan review process. There is a named exclusion with no buyers fee. See documents for PDA, zoning & named exclusion. Agents and prospective buyers must sign a confidentiality agreement before disclosure of financials.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,655,000 | |
| Land Assessment | $1,225,000 | Total Assessment | $4,880,000 |
PROPERTY TAXES
