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Cornell Portfolio - 22 Units - 80 Beds 1 Multifamily Properties Offered at $8,550,000 in Ithaca, NY
Investment Highlights
- Stabilized Cash Flow: Fully leased portfolio with consistent historical performance and minimal revenue volatility.
- Portfolio Scale with Flexibility: Eight-property portfolio allowing for multiple exit strategies.
- Institutional Market Fundamentals: Supply-constrained market supported by top-tier university demand.
- Operational Efficiency: Clean expense profile with no heavy repositioning required.
Executive Summary
This exclusive portfolio presents a rare opportunity to acquire a turnkey, stabilized, and high-performing student housing portfolio in the heart of Ithaca, New York, home to Ivy League institution Cornell University. Consisting of 7 strategically located properties in Collegetown and North Campus/Cornell Heights, this portfolio totals 80 beds across 22 units and 7 buildings, all of which are either new construction or have undergone comprehensive renovations - offering a strong and consistent rental history driven by steady student demand.
All properties have had 100% occupancy at the start of every school year and less than .05% collection loss through entirety of the current ownership.
Prime Locations: All properties are within proximity to Cornell University and key amenities, catering to Cornell Students, ensuring strong year-round rental demand.
Diversified Asset Mix: A combination of multi-unit properties, providing income diversification and operational flexibility. All units are fully furnished and feature tenant-paid utilities, ensuring strong cash flow and minimal management overhead.
Stabilized Income: Consistent occupancy and high rental rates.
Student Housing Focus: Tailored to meet the needs of undergraduate and graduate students, with proven demand and limited comparable supply in the market.
Ithaca Growth Market: Benefiting from one of the most resilient rental markets in Upstate New York, supported by a top-tier university and strong local economy.
Co-Listing New York Agent: Tam Marion Warren - Warren Real Estate; NYS Licensed Associate Real Estate Broker; Cell: 607-227-0198 | Web: www.warrenhomes.com; Email: tam@warrenhomes.com
All properties have had 100% occupancy at the start of every school year and less than .05% collection loss through entirety of the current ownership.
Prime Locations: All properties are within proximity to Cornell University and key amenities, catering to Cornell Students, ensuring strong year-round rental demand.
Diversified Asset Mix: A combination of multi-unit properties, providing income diversification and operational flexibility. All units are fully furnished and feature tenant-paid utilities, ensuring strong cash flow and minimal management overhead.
Stabilized Income: Consistent occupancy and high rental rates.
Student Housing Focus: Tailored to meet the needs of undergraduate and graduate students, with proven demand and limited comparable supply in the market.
Ithaca Growth Market: Benefiting from one of the most resilient rental markets in Upstate New York, supported by a top-tier university and strong local economy.
Co-Listing New York Agent: Tam Marion Warren - Warren Real Estate; NYS Licensed Associate Real Estate Broker; Cell: 607-227-0198 | Web: www.warrenhomes.com; Email: tam@warrenhomes.com
Property Facts
| Price | $8,550,000 | Number of Properties | 6 |
| Price / SF | $1,403 / SF | Individually For Sale | 0 |
| Cap Rate | 7.18% | Total Building Size | 6,092 SF |
| Sale Type | Investment | Total Land Area | 0.14 AC |
| Status | Active |
| Price | $8,550,000 |
| Price / SF | $1,403 / SF |
| Cap Rate | 7.18% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 6,092 SF |
| Total Land Area | 0.14 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 311 Farm St, Ithaca, NY 14850 | Multifamily | 6,092 SF | 1975 | - |
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Cornell Portfolio - 22 Units - 80 Beds
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