Cornell Portfolio - 54 Units - 151 Beds Multi-Family FOR SALE


Ithaca, NY - Cayuga Heights
$22,150,000 USD
215-454-2879
, Ithaca, NY for Sale
$22,150,000 USD
Multi-Family - FOR SALE
1/15
null | 7.13% Cap Rate

Cornell Portfolio - 54 Units - 151 Beds
Ithaca, NY
Cayuga Heights


HIGHLIGHTS

  • Stabilized Cash Flow: Fully leased portfolio with consistent historical performance and minimal revenue volatility.
  • Institutional Market Fundamentals: Supply-constrained market supported by top-tier university demand.
  • Portfolio Scale with Flexibility: Eight-property portfolio allowing for multiple exit strategies.
  • Operational Efficiency: Clean expense profile with no heavy repositioning required.

OVERVIEW

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 8 strategically located, 5+ unit properties in Collegetown and North Campus/Cornell Heights, this portfolio totals 154 beds across 53 units and 8 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

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215-454-2879

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215-454-2879

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