502 University Avenue

Ithaca, NY 14850

Price Reduced to $595,000! Gross Income of $72,600 Annually!

One of the oldest homes on University Avenue, the Mary B. Wood House was built for and occupied by Ezra Cornell’s mother-in-law and is named after her. The house is Second Empire style and was built in 1873. Gross income of this bldg. for 2022.2023 year is $72,600. Converted to student housing in the 1980s, this house now has 5 units, legal for 8 unrelated people. 2019 Certificate of Compliance to convey. Landlord’s style is to pay utilities, though there are 3 heating systems and future owner could pass on heating costs for 2 of 5 units.3rd heating system heats 3 remaining apts. Landlord provides hot and cold water, some furnishings and all appliances on site; seller to provide inventory of personal property. Tenants in adjacent buildings have rights to use coin-op laundry located at 508 University.