LAKE ITHACA, NY 14850

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Description

This property is offered for sale with Owner Financing available. With Owner Financing, owners can offer flexible terms which allow buyers to purchase property without a traditional bank loan. This leaves more room for negotiation on loan terms and approvals.

OPPORTUNITY OF A LIFETIME! THIS PROPERTY HAS NOT BEEN OFFERED FOR SALE ON THE OPEN MARKET IN 48 YEARS. PROPERTY IS OFFERED FOR SALE AS IS. NO SIGN WILL BE PLACED IN FRONT OF THIS PROPERTY OUT OF FEAR IT WOULD CAUSE A TRAFFIC ACCIDENT. Located in the West Campus area (R-3a zone) within short walk to the Arts Quad of Cornell University, this property is occupied by the best renters in the world -- graduate students -- and many of them are international students. The house consists of six apartments from one bedroom up to three, a total of nine bedrooms and a maximum of eleven unrelated persons. Certificate of Compliance dated 10/13/20 will be renewed so it will transfer to new owner. Property will be sold to qualified buyer, with owner financing only to qualified buyer. Terms of mortgage, price and downpayment may be negotiable depending on qualifications of the buyer. Approximate sq. ft. of apartments (interior measurements): #1 - One Bedroom furnished -- 683 sq. ft. #2 - Two Bedroom furnished -- 646 sq. ft. #3 - One Bedroom furnished -- 814 sq. ft. #4 - One Bedroom furnished -- 734 sq. ft. #5 - Efficiency furnished -- 402 sq. ft. #6 - Three Bedrooms furnished. -- 950 sq. ft. Common Areas -- 428 sq. ft. Total (interior measurements by rooms) -- 4,657 sq. ft. Approximate overall sq. ft. of building is 5,600 sq. ft. ( exterior building measurement) Based on current leases X 12, gross rent = $104,940 Please contact me for more specific information. The property consists of the apartment house plus a 936 sq. ft. barn., plus off-street parking for 6 vehicles. Architect's preliminary plan for converting the barn into carriage house apartments is included. PROPERTY IS OFFERED FOR SALE AS IS. When contacting me, please provide your name, email address, and phone #. Thank you. Please contact me by email only.