163 Ridge Rd - Apartments FOR SALE


Lansing, NY 14882
$635,000 USD
607-857-3864
163 Ridge Rd, Lansing, NY for Sale
$635,000 USD
Apartments - FOR SALE
1/34
null | 11.87% Cap Rate

163 Ridge Rd
Lansing, NY 14882


HIGHLIGHTS

  • Phenomenal location 5-minute drive from Cayuga Lake
  • Gross income $126,708 in 2025
  • 12 minutes from downtown Ithaca
  • Highly desirable vacation destination
  • Located in close proximity to two universities
  • Renovated from top to bottom in 2023

OVERVIEW

This charming Lansing multifamily has been fully renovated and optimized for short- and mid-term rental, and had a gross income of $126,708 in 2025. This STR operation is entirely turnkey, from listings to advertising to management and cleaning. Guests love the proximity to Myer's Park and 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 furnished down to the silverware in mid-century modern style, with custom lighting and fixtures. The house is a legal three-unit, but is currently utilizing two. Contact agent for OM and financial information- this one is performing at an actual 12% cap rate!

FOR SALE DETAILS

PRICE

$635,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

3

PRICE/UNIT

$211,667

CAP RATE

11.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

5

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

R2

APN/PARCEL ID

503289-035-000-0001-002-000-0000

ASK ABOUT THIS PROPERTY

Stephanie JacobsonYaman CommercialMore Info
607-857-3864

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Stephanie JacobsonYaman CommercialMore Info
607-857-3864

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.