Address
202 Lake Street, Ithaca City, NY
Price
$ 525,000
Property Attributes
- MLS#R1694445
- TypeMulti-Family
- Listing Status Active
- CountyTOMPKINS
- CityIthaca City
- AreaIthaca-City
- NeighborhoodSection 28
- Zip14850
- StyleTriplex
- Year Built1870
- Taxes$ 17185
- Price$ 525,000
- Bedrooms4
- Full Bathrooms3
- Half Bathrooms0
- Sqr Footage1704
- Lot Size0.18 Acres
Data Source:
Greater Rochester AOR (GRAR)
Property Description
Well-maintained 3-unit property that has been thoughtfully cared for and successfully operated as a rental. The building is in good condition with a strong rental history, offering a solid opportunity for investors seeking stable income. Each unit has been well maintained, allowing for continued rental use with minimal immediate work required. The property includes a washer and dryer located in the basement with access available to all tenants. A current Certificate of Compliance is in place. This property also presents an excellent option for an owner-occupant to live in one unit while renting the others to help offset expenses and supplement income. Conveniently located near downtown, shopping, dining, and public transportation, this multi-unit property offers both long-term value and flexibility. A rare opportunity to own a quality income-producing property in a desirable Ithaca location.
| Elementary School | Middle School | High School |
|---|---|---|
| Fall Creek Elementary | Boynton Middle | Ithaca Senior High |
| Price History | |
|---|---|
| 6/28/2026 | Listed $525,000 |
General Features
| Sewer | Connected |
|---|---|
| Heating | Gas,ForcedAir |
| Utilities | ElectricityConnected,SewerConnected,WaterConnected |
| Possession | Closing |
| Roof | Asphalt |
| Appliances | GasWaterHeater |
| Garage Spaces | 0.0 |
| Patio/Porch Features | Covered,Deck,Open,Porch |
| Architectural Style | Triplex |
| Construction Materials | VinylSiding |
| School District | Ithaca |
| Year Built | 1870 |
| Stories Count | 2 |
| Township | Not Applicable |
| Levels | Two |
| Property Subtype | MultiFamily |
| Gross Income | 54194.0 |
| OwnerPays | Heat,HotWater,SnowRemoval |
| County | Tompkins |
| Property Type | Residential |
| Subdivision Name | Section 28 |
| Rent Includes | Heat,HotWater,SnowRemoval |
| Full Baths | 3 |
| Status | Active |
| Directions | From Rte 13/ Meadow St,heading North,turn right on W Lincoln St,and then right on Lake St. The House will be on your right. |
| High School | Ithaca Senior High |
| City | Ithaca City |
| Senior Community Y/N | No |
| High School District | Ithaca |
| Number Of Units Total | 3 |
| MLS Area | Ithaca-City-500700 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 7841.0 |
| Elementary School | Fall Creek Elementary |
| Year Built Details | Existing |
| Tax Annual Amount | 17185.0 |
| Middle/Junior High School | Boynton Middle |
| Property Condition | Resale |
| Standard Status | Active |
| Middle/Junior School District | Ithaca |
| Elementary School District | Ithaca |
| Tax Assessed Value | 360000 |
| TaxOtherAnnualAssessmentAmount | 0.0 |
| Tax Lot | 7 |
Interior Features
| Basement | Full |
|---|---|
| Flooring | Hardwood,Laminate,Varies,Vinyl |
| Total Stories | 2 |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Total Bedrooms | 4 |
| Total Baths | 3 |
Exterior Features
| Exterior Amenities | Deck |
|---|---|
| Parking Features | Gravel,TwoOrMoreSpaces,Unpaved |
| Lot Features | CornerLot,IrregularLot,ResidentialLot |
| Water Source | Connected,Public |
| Lot Size Area | 0.18 |
| Foundation Details | Block,Stone |
| Building Area Total | 1704.0 |
| Lot Dimensions | 44X117 |
| Lot Size Acres | 0.18 |
| Waterfront Y/N | No |
| Number of Separate Gas Meters | 1 |
| Number of Separate Electric Meters | 4 |
| Road Frontage Type | CityStreet |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 14850
Price
Taxes
Year Built
Visits