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Building Details:

The property is a five (5) building, 60 unit apartment complex in the City of Ithaca. Currently operated as workforce housing in the supply constrained and highly attractive Ithaca market, this presents a prime opportunity to fully renovate interiors and increase rents up by over 60% to $1,600+ vs. ~$980 at present. Nearly all major common area and structural capital improvements are complete, and roofs are new as of 2019. As such, this asset presents a tremendous value add opportunity for the next investor, who can complete the necessary in-unit renovations to offer affordable and attractive apartments in a highly desirable suburban setting with easy access to educational, shopping, business, health-care and entertainment facilities