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163 Ridge Rd
Lansing, NY 14882
Beautiful Finger Lakes STR · Multifamily Property For Sale
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3 Units
INVESTMENT HIGHLIGHTS
- Phenomenal location 5-minute drive from Cayuga Lake
- 12 minutes from downtown Ithaca
- Located in close proximity to two universities
- Gross income $101,542/year
- Highly desirable vacation destination
- Renovated from top to bottom in 2023
EXECUTIVE SUMMARY
This charming Lansing triplex has been fully renovated an optimized for short and midterm rental. Guests love the proximity to Myer's Park alongside the convenience of shopping and restaurants. The main unit has a fireplace, bright and airy layout, a fully updated kitchen with bar seating and open dining area, and covered raised deck. The lower unit has a second luxurious fireplace, a walkout covered patio, truly open kitchen and living space, and cozy bedrooms. Both units are fully furnished in mid-century-modern style, and have custom lighting and fixtures. This property is a legal three-unit, but is currently utilizing two; buyer may have ability to add an ADU.
PROPERTY FACTS
| Price Per Unit | $303,116 CAD | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 2,832 SF |
| Cap Rate | 8.57% | No. Stories | 2 |
| No. Units | 3 | Year Built/Renovated | 1966/2023 |
| Zoning | R2 | ||
| Price Per Unit | $303,116 CAD |
| Sale Type | Investment |
| Cap Rate | 8.57% |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 2,832 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2023 |
| Zoning | R2 |
AMENITIES
UNIT AMENITIES
- Balcony
- Cable Ready
- Fireplace
- Microwave
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Oven
- Range
- Yard
- Deck
- Patio
SITE AMENITIES
- Sauna
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 2 | $5,829 CAD | - |
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